Hauppauge Digital's stock quadrupled in value in a little more than a day after the company announced that inexpensive new software for its TV tuner boards can stream live television over the Internet to Apple's iPad, iPhone, iPod Touch and Mac computers.
The stock - which usually sees 90,000 shares traded in a day but had 29 million shares change hands on Friday - went from a low Thursday of 92 cents to a high Friday of $4.85 before closing at $3.93, up nearly 30 percent for the day.
The interest in the WinTV Extend application was sparked when the company sent out a news release on the upgrade around 3:30 p.m. Thursday and trading in the stock suddenly surged. The WinTV v7.2 software upgrade that includes WinTV Extend is $9.95 on the company's hauppauge.com website.
By the 4 p.m. Thursday close, HAUP stock ended at $3.03.
In its statement, Hauppauge said WinTV Extend can take a live home TV signal and send it over the Internet to a specific Apple handheld or Mac screen.
"With a WinTV-HVR TV tuner and WinTV Extend running on a PC at home," it continued, "a user of a supported Apple device can be anywhere in the world and can have live TV from their home sent over the Internet to their Apple device screen."
There are a few models of the tuner ranging in price from $59 to $149, according to Ken Plotkin of Hauppauge Digital, who said one version could send signals from PCs running Windows 7. He said the company's sales department has been "pretty well swamped" since the announcement Thursday.