Today is simply Apple’s turn to be in the barrel. With Apple’s $100+ billion in cash, this is not even a mosquito bite. But for a small company like VirnetX with a market value of under $1.7 billion, a $368 million verdict will go quite a long way. The surge is being enhanced by the notion that Apple infringed four VirnetX patents.
The court will hear the post-trial motions in the upcoming weeks, which means this is not exactly the end of it.
VirnetX shares are up over 24% at $32.65 after the open, but the intellectual property company’s 52-week trading range is $18.20 to $41.93.
JON C. OGG