Health Discovery Stock Is Witnessing Solid Gains With Unusual Volume
There were several stocks that managed to record significant gains on Monday and one of those was intellectual property development company Health Discovery Corporation (OTCMKTS:HDVY).
The company is involved in creating an extensive intellectual property portfolio by using patent-protected mathematical techniques. However, the reason behind the rally in the stock is due to the fact that Health Discovery announced a few days ago that it has filed an infringement lawsuit against tech giant Intel Corporation. On Monday, the stock soared by as much as 44.50%, and under these circumstances; it could be worthwhile for investors to take a closer look at the key developments.
Back in February last year, the United States Patent and Trademark Office (USPTO) adjudicated an interference proceeding between HDC and Intel with regards to SVM-REF Patents. The USPTO ruled in favor of HDC at the time and went on to state that the company is entitled to excessive rights claims to the SVM-REF technology. In addition to that, it led to the cancellation of an Intel patent. Since the patent related to SVM-REF technology now belongs to HDC, the company can stop others from licensing, commercializing, or developing this technology and that lies at the basis of the dispute with Intel.
In the press release, the company stated that it has tried to not go down the path of litigation and since those results proved to be unsuccessful, HDC had no other option but to file an infringement suit. The company’s Chief Executive Officer and Chairman George H. McGovern stated that HDC has been forced to take this step in order to safeguard its sole ownership of the technology.
The company is committed to protecting its portfolio of intellectual properties. The news proved to be a major boost for the HDC stock and it remains to be seen if it can manage to garner further gains through the rest of the week. It goes without saying that the stock is expected to be in the radars of many investors today and hence, the HDC stock could be one to keep an eye on.
Since the announcement about the infringement suit was made by the company, the HDC stock has managed to experience a major surge in volumes and that has in turn resulted in the spike in the stock price. It is a well-known fact that stocks which are rooted in patents often deliver explosive gains and in that regard, HDC does not seem to be any different.
For instance, after the ruling from the USPTO in February last year, the stock surged from under a penny to highs of as much as $0.20 a share. Hence, it is going to be interesting to see how the latest development affects the stock.
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