Why Immersion Stock Skyrocketed Today

Shares of Immersion (NASDAQ: IMMR) have skyrocketed today, up by 30% as of noon EST, after a vote of confidence from Wall Street. Colliers reiterated a buy rating on the stock while increasing its price target from $13 to $15.

Analyst Charles Anderson is bullish on the company's prospects related to Sony's PlayStation 5, which incorporates Immersion's haptics technology in the new DualSense wireless controller. One of the notable additions to the newest generation of the game console is the inclusion of adaptive triggers in the controller, which facilitate a new level of haptic feedback for players.

DualSense controller. Image source: Sony.

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Source Fool.com