Patriot Scientific Corporation (OTC:PTSC) has built up buying pressure last Friday, when TPL Group sold their Moore Microprocessor Patent Portfolio license to Dresser Inc.Technology Properties Limited Group owned the license jointly with Patriot. No details of this transaction were further disclosed. The news weren’t life-changing and thus guaranteed no more than a one day’s rally. The opening bell on Monday brought in only a light volume with descending prices.[BANNER]
Patriot Scientific had disagreements with TPL in the past when Patriot’s joint venture partner had allegedly breaching the promissory note obligation.
The manufacturer of microprocessor chips is struggling to achieve significant sales and holds records of highly negative bottom line. The share price is thus kept low, despite of their balance sheet looking quite good. As in most cases, the low share price enables sudden swings, even on minor news.
Since the trading volume has failed to replicate early into trading on Monday, the chances of continued appreciation are very slim. The price sticks to a strong downtrend, which is encouraged with each quarter of fundamental losses.
