|Written by GSCR Staff|
|Wednesday, 30 May 2012 10:30|
Yes, this stock is up 600%.
The market is terrible today but a NASDAQ stock that we covered on a sponsored basis 2 years ago is the biggest winner of the day and is up over 600% since our initiation.
Not only are decliners leading advancers by a 5:1 margin but we are getting dangerously close to having more stocks below their 200-day moving average than above them. Not good. Oil is below the $88 mark for the first time in over seven months. It doesn’t appear as if it has a floor, but I suspect it will not fall below the $84-85 level.
If you do anything today, check out Neonode (NASDAQ – NEON - $6.27). On a split-adjusted basis, it is up over 600% from our initiation 2 years ago. The Company has the leading touch-screen technology on the market today and it used in cell phone, ereaders, etc. There is speculation that Apple (NASDAQ-AAPL) may be infringing on a patent for one of the touch screen motions/functions which could be huge for NEON in terms of royalties or perhaps a buyout altogether. We did not put a lot of stock in it at the time, but now that the Company has had success, and IP ownership and litigation seem to be on the rise, it could prove to be the cherry on top of the sundae.
We do not have an investment opinion on the stock or price target on NEON but it is one to at least put on the radar.
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Neonode, Inc. paid GSCR $5,000 for research coverage in 2010.
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