Time to go short in InterDigital Inc. (IDCC)
Symbols: IDCC
InterDigital Inc. (NASDAQ: IDCC) plunged on Monday on strong volumes, after the U.S. International Trade Commission mentioned on last Friday that it agreed with the initial determination by an administrative law judge that Nokia Corp. mobile phones that use 3G WCDMA technology did not infringe on IDCC patents.
IDCC shares were down 16 percent to $20.20 amidst heavy trading on Monday afternoon. It is likely that the stock may also be downgraded in near future ahead, in light of these findings.
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