BMR skyrockets, what happened?
Yesterday, Beamr Imaging Ltd. witnessed a remarkable surge in its share price, fueled by significant trading volume. This surge followed an announcement linking the content-adaptive video company to chip powerhouse Nvidia Corp. Furthermore, Beamr revealed the pricing details of an underwritten public offering of 1,714,200 ordinary shares, each priced at $7.00, resulting in gross proceeds of approximately $12 million, before deducting underwriting discounts and offering expenses.
BMR, you say up over 1500%?
The journey of Beamr's stock price on Monday unfolded with notable volatility. After closing at $2.28 in Friday's after-market trading, the stock opened on Monday's pre-market session at $2.30.
After some sideways movements to $2.27 by 6:58 AM, the stock surged to $3.36 just two minutes later at 7:00 AM, spurred by Trooper Trading Exclusive alerts issued at 07:01 AM. During the pre-market session, the stock soared to $6.07.
Following the market opening, the stock underwent a period of sideways consolidation for the first half-hour. However, the rally intensified around 10:00 AM, driving the stock almost continuously until 11:27 AM, reaching a staggering high of nearly $35—a surge of 1556%. This remarkable movement hinted at a significant short squeeze. At this peak, the stock had risen by 1047% since Trooper Trading's alert in the Telegram Exclusive Channel. Subsequently, profit-taking led to a decline in the stock price, with BMR closing at $11.09 by 4:00 PM, still reflecting an impressive increase of 425%. Trading volume spiked to 141.1 million shares, contrasting sharply with the 30-day average of about 268,000 shares.
Additionally, it's worth noting that our Trooper Trading Telegram free channel issued an alert at 9:14 AM when the price stood at $6. This alert preceded an impressive upward move, with the stock eventually reaching its high of the day at 11:27, reflecting a staggering increase of 500%. This highlights the timely and accurate nature of our alerts, providing valuable insights for traders seeking opportunities in the market.
And what was the news on BMR?
Beamr Imaging Ltd., headquartered in Israel, recently announced its collaboration with semiconductor giant Nvidia NVDA at the ACM Mile-High-Video 2024 conference in Denver. The focus of this collaboration is to advance automated video modernization, transitioning from the older AVC/H.264 format to the emerging AV1 format. The partnership aims to facilitate an automated process for transferring video libraries into the AV1 format while ensuring optimal video quality and leveraging Nvidia's hardware.
In addition to this collaboration, Beamr disclosed details of an underwritten public offering, generating gross proceeds of $12 million, with intentions to allocate the net proceeds toward research and development, sales and marketing, cloud operating costs, and general corporate purposes. However, it's important to note that the primary driver behind the remarkable surge in Beamr's stock price was the announcement of its collaboration with semiconductor giant Nvidia NVDA at the ACM Mile-High-Video 2024 conference in Denver. This offering, managed by ThinkEquity, is expected to conclude on February 15, 2024, subject to customary closing conditions. Interested parties can access the registration statement and final prospectus through the SEC's website. It's essential to emphasize that this press release does not constitute an offer to sell or solicit to buy securities, and sales are subject to compliance with relevant securities laws.
About Beamr
Beamr (Nasdaq: BMR) is a world leader in content adaptive video solutions. Backed by 53 granted patents, and winner of the 2021 Technology and Engineering Emmy® award and the 2021 Seagate Lyve Innovator of the Year award, Beamr's perceptual optimization technology enables up to a 50% reduction in bitrate with guaranteed quality. www.beamr.com