Stock Booms after Promising Technological Breakthrough
Stocks are up broadly so far today, pushing up against all-time records in many cases. The bifurcated trend from yesterday continues, with industrials performing well even as tech stocks lag.
Some News Quantified Top Plays come from events with complex strategic implications like mergers, subsidiary selloffs, and financial restructuring. Our users regularly record huge profits on these sorts of events, but they require some analytical savvy to get right.
Today’s Top Play is a simpler narrative—the oldest in the book for a booming stock—the promise of a breakthrough technology.
My Size is known for creating measuring applications for smartphones that, for instance, allow a user to rapidly estimate the dimensions of a given object. They also offer a “ruler” app that can quickly take measurements via smartphone camera.
Today, they announced, in addition to their flagship applications, that they will be announcing a “breakthrough” technology at the International Consumer Electronics trade show in Las Vegas this January.
There were no tangible rumors at the time of this writing on the nature of the new application. Investors appeared persuaded by MYSZ’s history of successful application development, however, and piled into the stock on heavy volume. The stock was up over 75% and still rising at the time of this writing.
As the bull market continues to ascend, stocks are becoming “priced to grow.” In this market environment, investors are hungry for stocks with potential for new long-term product lines, and today’s Top Performer is no exception to this trend.
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