Pixelworks Stock Shoots Up After Deal With Walt Disney Studios

Pixelworks, Inc. PXLW shares are trading higher Tuesday after the company announced that it has entered into a multi-year agreement with Walt Disney Company DIS.

The Details:

Pixelworks announced that the agreement between Walt Disney Studios and Pixelworks will bring a collection of TrueCut Motion graded titles to select home entertainment devices.

“At Disney, we are always looking for ways to elevate the viewer experience,” said Rachel Hutter, Head of Operations, Disney Studios. “TrueCut Motion technology brings a new level of creative reach to our filmmakers like never before.”

Pixelworks shares are shooting higher on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 54 million shares have already been traded in the session, compared to the stock’s 100-day average of less than 177,000 shares.

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PXLW Price Action: According to Benzinga Pro, Pixelworks shares are up 38% at $2.04 at the time of publication.

Image: 3282700 from Pixabay