Sunday, February 25, 2024
Stock Market

Why Is Beamr Imaging (BMR) Stock Up 555% Today?

Source: Michael Vi /

Beamr Imaging (NASDAQ:BMR) stock is rocketing higher on Monday after the video encoding, transcoding, and optimization solutions company announced a collaboration with Nvidia (NASDAQ:NVDA).

This team-up will see the two companies work together to accelerate the adoption of AOMedia Video 1 (AV1). This is an emerging video format set to replace the current one, which was established before smartphones and high-speed internet.

Beamr Imaging and Nvidia plan to present an automated process to transfer current video libraries to this new format. This will be possible through the use of Beamr Imaging’s Content-Adaptive-Bitrate technology combined with Nvidia’s NVENC encoder.

What This Means for BMR Stock

By teaming up with Nvidia, Beamr Imaging is securing its future as a player in the AV1 space. That sets it up as a long-time leader in the market with its ability to transfer and encode videos in the new format.

With this news comes a flurry of new investors buying BMR stock. That brings heavy trading to the company’s shares today. As of this writing, more than 77 million shares have changed hands. For comparison, the daily average trading volume for BMR stock is 148,000 shares.

BMR stock is up 554.5% as of Monday morning.

Investors can find even more of the most recent stock market stories ready to go below!

We have all of the hottest stock market news available on Monday! Among that is ContextLogic (NASDAQ:WISH) selling Wish, Rocket Lab (NASDAQ:RKLB) stock getting an upgrade and air taxi plans from Joby Aviation (NYSE:JOBY). You can get up to speed on all of this news down below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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