Diamonds and Dogs
9/16/14Sino-Global Shipping America Ltd. (SINO)
Sino-Global Shipping is going full speed ahead today, up 29.06% to $3.24. The shipping agency for ships entering and departing Chinese ports saw it shares pop after announcing that its revenue spiked 452.5% to $3.7 million, year over year. The company said that the huge change in revenue is attributed to its newly debuted Inland Transportation Management Service business. The huge increase in revenue change the company's net loss last year into a net gain for this year. Sino-Global shares hit a new 52-week high of $4.69 intraday.
VirnetX Holding Corp. (VHC)
VirnetX is crashing today, down 44.64% to $8.26. The software and technology company saw its shares fall sharply into the red after an appeals court said a $386 million jury award for patent infringement against Apple would be cut. VirnetX's award was due to the claim that Apple infringed on VirnetX's technology regarding FaceTime and VPN on demand. The U.S. Court of Appeals said the verdict for the case was "tainted" by erroneous instructions given to the jury, and that some of the testimony from a VirnetX expert should have been excluded from the case. VirnetX shares fell over $6.50 today but are still holding above their 52-week low of $6.00.