What Is The Reason Behind Skyrocketing Vringo, Inc. (NASDAQ:VRNG) Shares?


Dallas, Texas 02/14/2014 (FINANCIALSTRENDS) – A few days back the shares of Vringo, Inc. (NASDAQ:VRNG) skyrocketed and jumped as high as 20 percent. The main reason behind this jump is seen as company got a favorable ruling from court about the infringement of patents. The case was registered by the AdWords system used by the AOL and Google. A U.S court has issued a memorandum opinion and order and has asserted that the ongoing royalty rate for continued infringement of its patents is around 6.5 percent of the entire 20 percent royalty base that has been set previously.

During the last trading session the shares of Vringo closed at around $4.16 and the share price of this company touched a 52 week high of $5.45 and its 52 week low is $2.61. If we talk about the current market capitalization of this company then it comes out to be $349.96 million. During the last trading session the share price fluctuated between $4.02 and $4.25. The beta value of VRNG is 1.47 and EPS that is earnings per share is -0.60.

An overview of the Company

The Vringo, Inc. (NASDAQ:VRNG) is a company that with its subsidiaries engages in the innovation, acquisition, protection and licensing of intellectual property all over the world. If we talk about its intellectual property portfolio then it has got about 500 different patents and patent applications that mainly covers areas such a telecom infrastructure, internet search and different unique mobile technologies.

The company has got a global platform so that it can distribute mobile social applications and different services that are exclusively developed by the company. The company also operates Facetones platform which is basically a social ringtone application that helps in creating social visual ringtones by aggregating and displaying friend’s picture from different social networks. The company has its headquarters in New York in the United States of America.