InterDigital Getting Spanked (IDCC, NOK)

Posted in General, pre-market 
August 17th, 2009

InterDigital, Inc. (NASDAQ: IDCC) is getting spanked this morning after a patent ruling came from the International Trade Commission that went in favor of Nokia (NOK) rather than for InterDigital.  Shares are down sharply by almost one-third on the news. IDCC had sued Nokia for infringment.  Shares of IDCC are down 26% at $21.75 on 90,000 shares as of 8:50 AM EST.  Be advised that this traded almost 200,000 shares after the close on Friday after this ruling came out.  This trades only about 600,000 shares per day so we can expect an exponential volume day today in IDCC. The 52-week range here is $16.20 to $33.69.

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