Boston, MA 10/01/2014 (wallstreetpr) – Vimicro International Corporation (ADR) (NASDAQ:VIMC) emerged as the cynosure of the eyes of all the investors, soon after it disclosed that it is embarking into a mutually benefitting joint venture with Shanxi Zhongtianxin Science and Technology Co. Ltd.
The manufacturing house aptly designs, holistically develop, and exquisitely market varied semiconductor products and electronics and communications surveillance systems. The manufacturing house has won a large contract of manufacturing and providing SVAC compliant cameras for video surveillance to the Taiyuan based Traffic Police Department for a net valuation of $12.4 million.
Vimicro International Corporation (ADR) (NASDAQ:VIMC) operate using integrated semiconductors, duly customizable software and firmware, based on laid down ranges of standards for quick and righteous assembly, design and supply-chain management procedures. The whopping contract lured investors in numbers, since it is apparent that investing on VIMC shall reap useful returns on investments, later on!
Trading At A Glance
On the opening of the day’s trade on Tuesday morning, Vimicro International Corporation (ADR) (NASDAQ:VIMC) started gaining exposure, gapping up and rising very sharply. Volumes of publically offered shares were bought; this helped increase the average volume sharply, thick and fast.
Soon, it propelled up to 15% high, touching a price benchmark of $11.68, reaching a 2-week high, though witnessing pitfalls subsequently. This happened as a majority of the shareholders offered to sell off their shares, as transactions happened in astounding numbers.
With the course of the day, transactions became only few, the price falling to$9.69, due to mixed sentiments amongst the traders. However, it recovered and till the day’s end, VIMC witnessed a 8.75% hike, settling at $9.94.
The net trading volume for Vimicro International Corporation (ADR) (NASDAQ:VIMC) shares recorded a voluminous figure of 2.49 million shares, in comparison to the net average considerable volume of approximately 1.27 million shares. VIMC has a net market capitalization of $210.94 million. It had a 1-year high share price staggered at $9.88 per share. However, over the past 1 month, the net price rushed up 141.16% powered by the incident and imminent contracts.