Why Shares of VirnetX Holding Corp. Jumped Today
Shares of patent-holding company VirnetX Holding Corp. (NYSEMKT: VHC) jumped on Thursday after the company released preliminary third-quarter results. The stock has been volatile following the recent news that the company had won a patent case against Apple (NASDAQ: AAPL). At 3:45 p.m. EDT, shares of VirnetX were up about 14%.
VirnetX expects to produce third-quarter revenue of between $1.0 million and $1.2 million. A net loss of between $11 million and $12 million is expected, which comes out to a per-share loss between $0.18 and $0.20. VirnetX also disclosed that it expects its cash, cash equivalents, and investments held for sale to be approximately $4.3 million.
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Source: Fool.com
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