PXLW - Small Cap Rallies Strongly On Agreement With Walt Disney Studios

2024-01-30 14:41:57 ET

An Oregon-based tech firm had itself quite the day on Tuesday after the company announced a new agreement with Walt Disney studios. According to today’s release, in the new agreement, “Walt Disney Studios and Pixelworks will bring a collection of TrueCut Motion TM graded titles to select home entertainment devices.”

This sent shares of %Pixelworks (Nasdaq: PXLW) soaring during Tuesday’s session, with shares of the small cap reaching up to $2.44/share (+64.86%) at the early session high. This move was a strong upward breakout for this stock as a downtrending resistance trendline was previously corralling any peaks over the last few months.

Pixelworks Inc is a part of the technology sector in the United States. It provides high-performance and power-efficient visual processing solutions. It develops and markets semiconductor and software solutions that enable consistently high-quality, authentic viewing experiences in a wide variety of applications from cinema to smartphones. The company's primary target markets include Mobile, Home Entertainment, Content, and Business and Education. It generates maximum revenue from integrated circuit products and geographically from Japan.