Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of mobile patent peddler VirnetX
So what: The stock is hitting 52-week lows on news that the U.S. Patent and Trademark Office is re-examining a key VirnetX patent related to secure communications over wireless networks. The action seems to be a response to Apple
Now what: The majority of patents under the microscope of re-examination get overturned, and I don't much like VirnetX's business model to begin with. That said, Microsoft
Given the company's highly concentrated patent portfolio, its financial future could live or die with the health of a handful of crucial papers. From here, the whims of the patent office will determine whether VirnetX crashes further or rebounds to insane new highs. This one's strictly for the gamblers out there.
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