NEW YORK (TheStreet) -- Wireless communications specialist xG Technology (XGTI - Get Report) is extending its rally through Wednesday's session. The nano-cap exploded on Monday after announcing it had been awarded a key cognitive radio patent to enable high-performance spectrum sharing.
By midafternoon, shares had added 85.3% to $4.04. Trading volume of 10.2 million was nearly 13 times its three-month daily average.
Since its patent announcement at the beginning of the week, shares are up 207.8%.
The patent will protect xG's ability to deliver radio systems which operate on crowded frequencies.