VoIP-Pal.com Inc (OTCMKTS:VPLM) Stock Jumps 5% In a Week: Here is Why
Those who are currently on the lookout for stocks which may have made a strong move on Thursday could do well to consider taking a look at the VoIP-Pal.com Inc (OTCMKTS:VPLM) stock. The stock was in focus among investors yesterday and ended the day with gains of as much as 5%.
Market Stats
On Thursday, VPLM stock was down 4% to $0.0142 with 543k shares, compared to its average volume of 1.08 million shares. The stock has moved within a range of $0.0140 – 0.0148 after opening trading at $0.0148.
Recent Developments
In this context, it should be noted that there was no news about the company yesterday but back on Tuesday the company had provided an important update and that may have had an effect on the stock. At the time, VoIP-Pal.com released an update with regards to the lawsuits that are ongoing in the Western District of Texas.
The company noted that the stay on legal proceedings in three of the cases have been lifted by the court. The three lawsuits in question are against Facebook, Amazon and Google. The cases had originally been filed by VoIP-Pal.com back in April last year with regards to infringement on one of the company’s patents.
The patent in this specific case was related to “Producing Routing Messages For Voice Over IP Communications.” The stay on these cases had been announced back on September 30 last year but its reversal is a major boost for the company.
Traders Corner
VPLM stock is trading below the 20-Day and 200-Day Moving averages of $0143 and $0.179 respectively. The stock is trading in the neutral zone with RSI stands at 49.
