New Product Gives Smith Micro a Boost
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Shares of Smith Micro Software Inc. climbed 23% Wednesday after the Aliso Viejo company announced that it has developed the first videoconferencing software product using the latest technology standards for Apple’s Mac computers.
The stock gained $1.28 a share to close at $6.88 in Nasdaq trading. However, it is still far below its 52-week high of $32 a share reached in March.
Smith Micro’s new product will enable education, small business and home users to communicate with both audio and video in real time over the Internet and will allow customers to communicate with other Mac users as well as Microsoft Windows users.
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