Shares of Spherix Inc (NASDAQ: SPEX), engaged in owning patented and unpatented intellectual property, recorded over 14.6% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. SPEX was the top performer of U.S. technology sector, skyrocketing 65.9% and closed at $1.56 Tuesday, while recording significant trading volumes of 13.5 million shares. SPEX breached its key technical resistance levels of 30-Day & 50-Day DMAs at $1.25 & $1.36 respectively. Recently, the company declared that it had filed a patent litigation in the U.S. district court for the district of Delaware against Cisco Incorporated (CSCO) claiming that the San Jose, CA based company infringes 11 patents owned by Spherix. During the past 5-trading sessions, SPEX gained 67.8% with daily average trading volumes of 3.3 million shares, while the stock accumulated over 6.1% during the past one month with daily average trading volumes of 1.1 million shares.
Company Description:
Spherix Incorporated (NASDAQ: SPEX) acquires technology patents and intellectual property. The Company offers a diversified commercialization platform for protected technologies.
1-Year Stock Chart:
Source: Bloomberg
