Himax Technologies (HIMX) Rallies as Google Glass Spurs Momentum Trade
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Himax Technologies, Inc. (Nasdaq: HIMX) stock went on a run Wednesday following comments from Glu Mobile's (Nasdaq: GLUU) CEO. Speaking to VentureBeat, Niccolo de Masi said Google Glass (Nasdaq: GOOG) could trigger another "iPhone moment." Comments follow news last week Glu Mobile had developed a word game called Spellista for Glass. The bullish statement was all Himax bulls needed to pull the trigger, promoting a 10% rally.
In July Himax Technologies announced that it has entered into an agreement with Google pursuant to which Google has agreed to invest in the Company's subsidiary, Himax Display Inc. ("HDI"). The purpose of the investment is to fund production upgrades, expand capacity and further enhance production capabilities at HDI's facilities that produce liquid crystal on silicon ("LCOS") chips and modules used in applications including head-mounted display (HMD) such as Google Glass, head-up display (HUD) and pico-projector products.
In July Himax Technologies announced that it has entered into an agreement with Google pursuant to which Google has agreed to invest in the Company's subsidiary, Himax Display Inc. ("HDI"). The purpose of the investment is to fund production upgrades, expand capacity and further enhance production capabilities at HDI's facilities that produce liquid crystal on silicon ("LCOS") chips and modules used in applications including head-mounted display (HMD) such as Google Glass, head-up display (HUD) and pico-projector products.
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