Why Spherix (SPEX) Stock Is Up Today

NEW YORK (TheStreet) -- Spherix (SPEX) was gaining 10.9% to $2.03 Tuesday after announcing it will join the Russell Microcap Index.

The company will join the index on June 27. Membership in the index lasts for one year, and also means the company will be included in growth and value style indexes.

"We are pleased to be included in the Russell Microcap Index and look forward to the additional investment community exposure this membership is expected to bring," Spherix CEO Anthony Hayes said in a press release. "Inclusion will further raise our profile as we continue to gain momentum in our efforts to monetize our portfolio of intellectual property patents."

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"Spherix Incorporated (Spherix) is an intellectual property company that owns patented and unpatented intellectual property. Through its acquisition of seven patents from Rockstar Consortium US, LP (Rockstar) and acquisition of several hundred patents issued to Harris Corporation as a result of its acquisition of North South, the Company has expanded its activities in wireless communications and telecommunication sectors including antenna technology, wireless fidelity (Wi-Fi), base station functionality, and cellular. On September 10, 2013, Spherix Incorporated closed on the acquisition of North South Holdings Inc. The Company's activities generally include the acquisition and development of patents through internal or external research and development. In addition, the Company seeks to acquire existing rights to intellectual property through the acquisition of already issued patents and pending patent applications, both in the United States and abroad."

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