The stock-holding faithful of My Size, Inc. (NASDAQ:MYSZ) surely have had their patience tested more than once on a share price ride that has seen shares collapse from about $5 last year when the Israeli startup started trading all the way down to a low of 57 cents just seven trading sessions ago. If there was a light at the end of the tunnel, it was from a technical perspective where the area of 60 cents held since late August as a bottom support.
There was also a promise from the company back in November that it would be unveiling a "technological breakthrough" at the annual CES in Las Vegas, although it was secretive about what it could be.
Shares have been in a full-on sprint forward in 2018, bouncing off that bottom to print as high at $3.58 in Monday trading on record volume of nearly 69 million.
The developer and creator of smartphone measurement applications said this morning that it will be presenting "MySizeID - The Movie" at CES this week. The movie was made to show off the capabilities of the company's new body measuring technology that it believes can reshape the way people shop for clothes online.
After taking measurements with a smartphone, the program can then recommend the correct size to the consumer, which the company is hopeful will be embraced by shoppers for saving time and the aggravation of getting the wrong size.
Apparently market participants think it's a good idea, judging by shares of MYSZ hitting their highest level since last March before conceding some of the gains to close Monday's trading session at $2.86 for a healthy gain of 72.3%.
