Why Integrated Media Technology Share Price Jumped Higher Today
At the time of writing, shares of Integrated Media Technology Ltd [ASX:ITL] are up by 69.96%, today trading for $17 per share.
Integrated Media is a technology investment company engaged in the acquisition, development, and commercialisation of autostereoscopic 3D display technology products and services.
Why did Integrated Media Technology Ltd shares rise?
On 3 May, Integrated Media Technology Ltd confirmed that investor awareness is growing towards its products in the US. The company listed on the NASDAQ exchange last year and is delisting from the ASX.
What now for Integrated Media Technology Ltd?
The latest news was applauded by the market. Integrated Media’s share price has skyrocketed from $5 per share on 3 May. Here’s the latest share price chart:
Following the news last week the share price hit a high of $20.10. Given the price surge over the short time period, day traders decided to dump their stock. However, investors have decided to step back into the market and support the share price.
The company is making significant progress with its 3D imaging technology through its wholly owned subsidiaries, Marvel Digital Limited and GOXD Technology Limited. These products include glasses-free 3D digital signage and video wall, 3D conversion equipment and software for the film/video production industry.
Assuming these products gain traction in the US market, Integrated Media Technology Ltd shareholders could do well.
Resources Analyst, Money Morning
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