BMR - Beamr (NASDAQ:BMR) New 52 Week High on NVIDIA JR News

2024-02-12 13:04:00 ET

DENVER, Colo., Feb. 12, 2024 ( www.247marketnews.com )- Beamr Imaging’s (NASDAQ:BMR) joint research, with NVIDIA Corporation, presentation, relating to automated video modernization at the ACM Mile-High-Video 2024 conference, in Denver, Colorado.

It stated that AOMedia Video 1 (AV1) is an efficient emerging video format, which is backed by tech giants like Amazon, Google and Microsoft, but it’s facing slow adoption due to the highly complex and costly processes of upgrading existing video libraries in growing markets like artificial intelligence (AI), machine learning, streaming  and user-generated content. Today Beamr and NVIDIA are going to jointly present for the first time a proposed solution to this challenge, at the ACM Mile-High-Video 2024 conference.

We covered BMR when it was trading at $3.57, it’s now trading at $22.22, up $20.11 (+953.08%), on 116.2M shares traded. It dropped after trading was halted, but it looks like it should set up for another run, the strength of which will determined on how aggressive the new shorters jumped into today’s trading.

Its 52-week range is $0.91 to 34.94. BMR crushed its previous 52-week high, set in June

Beamr CTO, Tamar Shoham, who will present the research at the conference, explained: “Until today, adopting the upgraded video standard was a complex transition for two reasons – one, the new standard requires significantly more compute power and therefore comes at a very high cost; and two, the new standard requires a steep learning curve as it is difficult to figure out how much added compression can be applied without sacrificing video quality, which results in a lot of uncertainty during the process,” said Tamar Shoham, Beamr CTO.

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