Immersion Corporation (IMMR), a technology firm with a small capitalization, grew in price thanks to the selling of its production for the upcoming Sony PlayStation 5 game console. The capitalization of the market currently stands at $331.54 million.
An optimistic comment by the analyst of the research firm Colliers Charles Anderson was the explanation for the recent rise in shares on December 29. Charles Anderson is positive about the future of the venture. The use of Immersion’s strategic input technologies in the latest Sony PlayStation 5 game console’s DualSense joystick is the biggest positive aspect. For a deeper immersion in the gaming process, the DualSense game controller incorporates many innovations. The buttons have, in particular, special actuators that change the pressure resistance. Technology for dynamic vibration motor control is often used to respond to game events: shots, explosions, dropping, etc.
The Colliers analyst noted that the PlayStation 5 console, which was easily sold out in physical and digital stores, was in extremely high demand. Also, extra consignments from warehouses have been sold out. Immersion earns revenue from each controller, and good game console sales mean the company’s improved cash flow. And not only at the time of purchasing the console, but also in the future, when it is appropriate to repair worn-out controls. Also, Immersion will market its supply to other gaming equipment manufacturers.
Against this backdrop, Colliers recommended the buying of IMMR shares, and the target price was increased from $13 to $15. Immersion Corporation (IMMR) rose by 2.43% to close the Thursday trading at $12.45.