Going to a trade show isn't usually something that gets a public company's stock moving. But, a promise to unveil a "technological breakthrough" at the world's biggest consumer electronics show, well, that'll get some attention.
That's exactly what has shares of My Size, Inc. (NASDAQ:MYSZ) atop the best performers on the NASDAQ exchange in Thursday trading.
The Tel Aviv, Israel-based maker of smartphone measurement applications said this morning that it will be in Las Vegas on January 9-12, 2018 at the CES innovations trade show to show off its new tech breakthrough, but remained secretive, not even providing any hints about what it could be.
The press release was also used to let investors know that the company's three flagship products will also be on display. SizeUp is an app designed for do-it-yourelfers that allows users to make measurements on smooth or rough surfaces with their smartphone.
TrueSize, also known as Real Size as a white label product tailored for clothes retailer TRUCCO, enables consumers to match the sizes of their outfits with the correct size of an item selected from a retailer's website. Lastly, BoxSizeID is designed for shippers to accurately measure and track boxes to improve efficiency.
The news of a breakthrough got traders clamoring, resulting in the best volume day for MYSZ in the company's history, with over 20 million shares changing hands with an hour still to go in the trading day. Shares have jumped 58.9% to $1.05 in the process, with an intraday high of $1.28 marking the highest for the stock since April 19.