Here’s Why My Size (MYSZ) Shares Are Rising Like Wildfire Today
My Size (NASDAQ:MYSZ) stock is bouncing almost 19% on back of exciting patent buzz: the Israeli tech firm has just gained a Notice of Allowance from the U.S. Patent and Trademark Office for its patent application, “Method and System for Measuring a Path Length Using a Handheld Electronic Device.” In the next weeks to pass, high anticipation is on this patent, primed to issue. Notably, this indicates My Size’s second patent win in the U.S.
Present-day, MYSZ technology has protection under four issued patents ranging from Japan to Russia to the U.S. Future patents are pending with a slew of patent applications in motion.
Every method and system for path length measurement utilizing a handheld electronic device is covered by the allowed patent, which tackles the basis for the Israeli tech firm’s measurement apps: its foundational technology. Additionally, the patient directly addresses each of MySize’s vertical-specific applications as well as its branded apps.
“My Size is an innovation engine for measurement technologies that we believe will fundamentally transform and enhance business in our targeted vertical markets including the shipping and courier business, retail apparel, and the do-it-yourself (DIY) market,” said My Size CEO Ronen Luzon. “The U.S. is one of the largest geographic markets for our measurement technology and we are deploying significant marketing and sales efforts in this market. The U.S. Patent and Trademark Office’s allowance of this patent supports our sales strategies and validates the uniqueness of our innovations.”
My Size offers solutions critical to eliminating the sizing and measurement issues impacting several burgeoning markets, including the retail, parcel delivery, and do-it-yourself (“DIY”) home improvement market, seamlessly embedding the core technology behind the Company’s MySizeID, TrueSize™, SizeUp™ and BoxSizeID™ applications into any company’s existing or white label mobile app. The technology provides users with the ability to instantly and accurately measure objects with a quick movement of their mobile phone. The Company’s proprietary and patent-pending algorithms utilize a smartphone’s sensors, combined with anthropometric data, to accurately measure everything from everyday objects to body measurements.