Ambarella Inc. (NASDAQ:AMBA), Google Inc. (NASDAQ:GOOG) And New Wearable Camera
Ambarella Inc. (NASDAQ:AMBA)’s stock made a stunning trade on Friday as the share price soared close to 11.5% and marked fresh 52 week high of $28.83 before closing at $27.94. Volume of 3.82 million was almost 4 times the average 30 day volume of 974K shares. The Friday’s closing marked more than 200% gains from its 52 week low of $9.04 and around 150% gains year to date.
Ambarella Inc. is a California based Technology Company that offers HD quality video capture, sharing, and display through its semiconductor processing solutions. On Friday the stock soared behind the news that online search giant Google Inc. (NASDAQ:GOOG) and Ambarella Inc. has teamed up for the development of a new type of wearable camera.
The Google Effect
Ambarella Inc. (NASDAQ:AMBA) announced on Friday that it is exploring with search leader a new type of wearable cameras for the “Helpouts” application and service. During the four day Consumer Electronics Show in Las Vegas, Starting January 7th, both the companies will jointly demonstrate the wearable camera reference design.
Helpouts is a novel way of sharing knowledge and expertise over live video. A new type of camera developed by both these companies will enable instructors see video from a trainee’s viewpoint and vice versa. The new type of camera is expected to support and enhance interactive teaching of cooking, fitness, sports, art or even any other hands-on-activity.
The Elite Speak
The Chief Executive Officer of Ambarella Inc. (NASDAQ:AMBA) Fermi Wang said, “We are delighted to be working with Google and look forward to enabling Helpouts on our new wearable camera platform. The result will be a new class of camera that enables teachers and trainees to interact in an entirely new way.”
The VP of Engineering at Google Inc. (NASDAQ:GOOG), Udi Manber said that the integration of new Ambarella-based cameras into Helpouts will make the online interaction more efficient and simple.