The 4DS Memory Ltd (ASX: 4DS) share price has defied market sentiment and surged higher today. On the back of investor excitement in the computer chip industry, the 4DS Memory share price finished the day at 7.3 cents, up 46%. This compared to the All Ordinaires Index (ASX: XAO) which slumped 2.1% to 6,058 points.
What does 4DS do?
4DS Memory is a semi-conductor company that develops resistive random-access memory (ReRAM). With research facilities in Silicon Valley, the start-up tech seeks to commercialise its product to become a replacement for more traditional Flash memory storage.
It is estimated that the total addressable market for the memory industry is around $40 billion.
ASX speeding ticket
The ASX issued 4DS Memory a speeding ticket today following its dramatic share price rise. 4DS Memory advised it was not aware of any information that could explain the recent trading of its securities, other than its most recent company updates.
Early last month, 4DS memory was granted 3 additional patents that related to the operation of 4DS Interface Switching ReRAM as a high-speed Storage Class Memory. CEO Dr Guido Arnout said the achievement presented a significant milestone for the company.
Investor excitement
While the market has been dragged down by heavy losses overnight in the Dow Jones Industrial Average (INDEXDJX: .DJI) and NASDAQ, investors have been taking up positions on 4DS Memory. This is thanks to the recent raft of positive announcements from rival, Brainchip Holdings Ltd (ASX: BRN). The Brainchip share price has quadrupled in the past month from 18 cents to 75 cents in today's market closing.
Clearly, investors are pre-empting 4DS Memory to follow suit thanks to its innovative storage memory that could be used in advanced applications.
About the 4DS Memory share price
The 4DS Memory share price has risen almost 300% since falling to its 52-week low of 2.5 cents in March. Since the start of the calendar year, the 4DS Memory share price is up 30% and could push higher in the coming days.
