Today we feature Spherix Inc. (NASDAQ: SPEX), a technology services company, as the top momentum gainer, since the stock surged over 9% during the last two consecutive trading days with more shares exchanging hands than in a normal session. During the previous trading session, SPEX was the top gainers in the U.S. technology sector powering 96.7% higher breaking the short term 30-day and 50-day DMA at $1.65 & $2.37 respectively. The stock closed at $2.97 while recording massive volumes of 45.5 million shares. During the past 5-trading sessions, SPEX climbed 82.2% with 5-day daily average trading volumes of 10.8 million shares, while the stock accumulated over 74% during the past month with 30-day daily average trading volumes of 2.6 million shares. Recently SPEX reported that the U.S. Senate, and Senate Judiciary Committee Chairman Patrick Leahy shelved the patent reform bill from the committee’s calendar due to lack of comprehensive support by competing companies on both sides of the issue. The bill was designed to address the issue of patent trolls – companies with the sole purpose of acquiring patents to file lawsuits against them.
Company Description:
Spherix Inc. (NASDAQ: SPEX) acquires technology patents and intellectual property. The company offers a diversified commercialization platform for protected technologies.
6-Months Stock Chart:
Source: Bloomberg
