VRNG to Surge at Opening

Vringo, Inc. (NYSEAMEX:VRNG) faced the unusual growth of 20.69%.

On Tuesday (January, 31) VRNG opened trading at $1.59 with a surge of 27.00%.In the course of trading VRNG experienced minor ups and downs and ended up at $1.40 with a raise of $0.24 before the closing bell. At the current price the company’s market capitalization stands at $13.94 million, which refers VRNG to a group of small cap companies. Following the unusual price heading up as well as multiple sell and buy signals the company’s trading volume amounted to 2.72 million shares which is much higher than its average 30-day trading volume of 107,230.00 shares. The company owns 9.95 million outstanding shares that are engaged in stock market portfolios of different investors.

The company’s shares started heading up after the announcement of releasing a new version of Facetones adjusted to the latest mobile devices produced by Nokia, one of the leading international mobile phone manufacturers.

The new application ensures integration with Facebook and provides visual slideshows of pictures of other users in course of the communication with the help of mobile devices. The new application is fully customized to Symbian 3 operating system, which also refers to the recent extensions – Anna and Belle launched in the second half of 2011. Due to the updated Facetones the latest series of Nokia cell phones based on Symbian 3 operating system offers users feature-rich screen media as well as the most diverse and comprehensive social functionality. This month the new Nokia application is to be launched at Nokia store.

Vringo, Inc. is a representative of the Software and Programming industry of the Technology sector. The company is focused on developing mobile phones software aimed at providing mobile entertainment content.