Hauppauge Digital Soars as Much as 45 Percent

Shares of Hauppauge Digital Inc (HAUP) jumped 40.51 percent to $3.33 and advanced to $3.64 earlier, the highest intraday price since May 14, after the developer of analog and digital television tuners for PC’s, unveiled a new device for streaming live TV over laptops and Apple Inc‘s (AAPL) iPod, iPad and iPhone. Called “Broadway”, the new stand alone “box” from Hauppauge’s PCTV Systems division allows live TV to be watched on an Apple device in the home through a WiFi connection, or anywhere in the world via an Internet connection.

Hauppage Digital said Broadway will have a suggested retail price of $199 and will be available in North America in about six weeks.

Shares of Hauppage Inc are currently up 39.24% at $3.30 per share ; the stock has traded as high as $3.68. Volume has exploded with more than 4.3 million HAUP shares already trading hands compared to a daily average volume of just 256.000.

HAUP has been moving largely lower over the past two months and is currently trading above its 50-day moving average, located at $2.50, and above its 200-day moving average, located at $2.23. The stock could challenge (long – term) resistance at $5, which hasn’t been surmounted on a daily closing basis since late 2008.

At last check, HAUP shares, which opened at $3.04 on Thursday, were up over 37.50% to $3.26 in trading on the Nasdaq.

Disclosure: No Position

About Ron Haruni 1035 Articles
Ron is the Co-Founder & Editor in Chief of Wall Street Pit. Web Site: Wall Street Pit

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