Beamr Imaging (NASDAQ:BMR) stock is falling on Monday as investors in the video encoding and transcoding company celebrate new optimizations.
Beamr Imaging says that it will be showing off optimized production of large, high-quality, high-resolution videos rendered from 3D design at SIGGRAPH 2024. It notes that this is possible with its use of Oracle Cloud Infrastructure (OCI).
Beamr Imaging notes that its optimization allows it to take an incredibly large video file for 3D design and reduce it to a fourth of its size. It can do so while maintaining a high resolution that allows for intricate details to be seen.
Beamr Imaging provides the following details about its video optimization process.
“The demonstration at SIGGRAPH showcases the optimization of a video from a 3D design, reducing an extremely large video file to one-fourth of its original size. The streamlined video is from an OpenUSD-based scene developed on NVIDIA Omniverse, a platform for developing and deploying 3D workflows, applications and services based on OpenUSD.”
How This Affects BMR Stock Today
With this video optimization news comes heavy trading of BMR stock. That has more than 7 million shares changing hands as of this writing. That’s already well above its daily average trading volume of about 1.3 million shares.
BMR stock started off strong on Monday with its shares gaining up to 10%. However, the rally is already over with the stock now down 8.7% in the afternoon compared to its previous closing price.
Investors will want to stick around for more stock market news today!
We have all of the latest stock market stories traders need to know about on Monday! That includes everything happening with shares of Tesla (NASDAQ:TSLA) stock, Mullen Automotive (NASDAQ:MULN) stock and Tilray (NASDAQ:TLRY) stock today. All of this info is available 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 InvestorPlace.com Publishing Guidelines.
