NavStar Technologies, Inc’s (NVST.PK) share price increased 25% during Tuesday’s trading hours. Whereas the daily volume is 25,000 shares, Tuesday saw a surge of volume that totaled 100,000 shares. This increase in volume can be attributed to corporate news released last Friday.
In this statement, NavStar unveiled their new Voice Navigator product. Specifically, the Voice Navigator is a compact, simple and safe to use personal navigation device. Voice Navigator will allow each user to request and download a transportation route while making a hands free cell phone call. According to ABI Research, out of the 300M vehicles currently on the road in the United States, only 9% use a navigation device. However, the market for personal navigation solutions such as the Voice Navigator is expected to grow and reach a volume of more than 100M units by 2011.
NavStar Technologies is a leading company focused on the manufacturing of portable navigation devices; targeted towards the consumer / retail market. In addition to providing portable navigation devices, the company also offers the “NavStar” server platform. This platform provides fully customizable services for the delivery industry, the home healthcare industry, and the R.V industry.
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