NLST - Why Did Netlist (NLST) Stock Close Up 30% Yesterday?
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Netlist (OTCMKTS:NLST) stock has been rising higher these last couple of days thanks to an update on its patent battle with Alphabet’s (NASDAQ:GOOG,GOOGL) Google.
According to a press release, this comes from United States District Court for the Northern District of California granting an order for a “motion for summary judgement on intervening rights.” This means that the enforcement of claim 16 can’t be abridged and should give Netlist an edge in its legal battle with the tech giant.
The big legal battle here is over Netlist’s claims that Google has been using its intellectual properties without its permission. This pertains to U.S. 7,619,912 (‘912) patent, which covers DDR3 and DDR4 server DIMMs (Dual Inline Memory Module), as well as upcoming DDR5 server DIMM standards in the works.
C.K. Hong, CEO of Netlist, said the following about the court order that’s sending NLST stock higher.
‘This ruling stands as vindication of Netlist’s rights in its decade-plus fight against Google. We now look forward to a complete discovery of Google’s make and use of infringing products over this period, and bringing this case before a jury as soon as possible.”
This court order has increased interest in NLST stock with heavy trading lately. For Friday, that’s resulted in over 1 million shares changing hands. That’s already above its daily average trading volume of about 421,000 shares.
NLST stock is up 14% as of Friday morning after experiencing a 30% gain yesterday.
Investors searching for more stock market news are in luck!
InvestorPlace has all of the latest stock market coverage that traders need to know about! That includes what’s happening with Vinco Ventures (NASDAQ:BBIG) stock and Nio (NYSE:NIO) stock, as well as this morning’s biggest pre-market stock movers. You can read up on all of these matters at the following links!
More Stock Market News for Friday
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- NIO Stock Looks to Rebound on Proposed Singapore Listing
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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