Much to the delight of its shareholders, the Audio Pixels Holdings Ltd (ASX: AKP) share price has been a huge mover today.
In late morning trade the digital speaker developer's shares are up a massive 22% to $23.30.
What happened?
This morning Audio Pixels announced that it has completed development of a production process for the critical points of contact layers of its micro-electromechanical structures (MEMS).
According to the release, management is extremely satisfied with the development which produces a reliable and repeatable production process that consistently delivers the targeted performance of the contact layers.
So much so the company is now in the process of filing for patent protection for the unique combination of processes.
Should you invest?
This is undoubtedly a big step forward for the company in my opinion. Especially as it had been struggling for far longer than expected with its contact layers, leading many to fear for the worse.
But despite this development I still find it hard to justify an investment in the company at this stage. Whilst this technology could theoretically revolutionise the digital speaker industry, I'd prefer to hold off an investment until there is a working commercial product available that justifies its monster market cap of over $600 million.
So for now, I would suggest investors watch on from the sidelines and consider investments in tech companies like Catapult Group International Ltd (ASX: CAT) or Aconex Ltd (ASX: ACX) instead.
