ParkerVision Shares Down ~70%

ParkerVision PRKR is on track to be the biggest loser of the day. Shares were down 34 percent before being halted and are now trading at a 70 percent loss.

ParkerVision is an intellectual property company and investors were depending on a lawsuit against Qualcomm QCOM. All motions, except for one upholding the validity of the patents, were overturned.

ParkerVision CEO Jeffery Parker commented, “While we are pleased that the court upheld the jury's decision that the patents are valid, we are obviously disappointed with the District Court's ruling that judgment be entered for Qualcomm on non-infringement. We will appeal this latest ruling on non-infringement."

Related: Why ParkerVision Shares Are Down More Than 30%

The court documents were filed on Friday, however investors did not catch on until Monday morning. Shares dropped 34 percent before Nasdaq halted the company and it was nearly two hours after the sell off started before ParkerVision issued a press release.

Shares reopened at $2 and are down trading at $1.60, a 68 percent drop from Friday’s close, triggering a circuit breaker. Less than a minute later, less than two minutes later a second circuit breaker halt was triggered.

Despite the massive sell off, shares at $1.60 have rebounded significantly from the $1.30 low.