Is ParkerVision, Inc. (OTCMKTS:PRKR) The Hot penny Stock To Watch in February?
Many stocks have managed to record significant gains over the course of the past month or so, however, investors need to take a lot of factors into consideration before deciding on the stocks to track. One of the stocks that could be worth focussing on at this point is that of ParkerVision, Inc. (OTCMKTS:PRKR).
The ParkerVision stock has displayed considerable momentum over the course of the past month and soared by as much as 200%. The rally continued on Monday when the stock ended the day with gains of 26.67%. One of the major reasons behind the rally in the ParkerVision stock came about in the early days of January when the company filed an 8-K entry with regards to a material definitive agreement.
Back on January 5, ParkerVision announced that it entered into a securities purchase agreement with a group of accredited investors referred to as Exhibit 3.0. The agreement related to the sale of as many as 2976430 shares in the company’s common stock for $0.35 a share.
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The proceeds from the aforementioned sale were going to be $1041750. However, that is not all. ParkerVision sweetened the deal further with a contingent payment to the investors which is going to be paid out from the net proceeds from the patent claims.
It is a significant development for ParkerVision and it was no surprise that investors welcomed the move. Back in November, ParkerVision released its financial results for the third quarter and reported earnings per sure under GAAP (generally accepted accounting principles) of negative $0.03.
It remains to be seen if the stock can continue to display the sort of momentum that it has displayed over the past weeks. However, it is likely that the stock is going to be in the radars of many investors this week and the rally on Monday could have been an indicator of things to come.