FinancialContent, Inc., a provider of financial data and business applications to online media and financial services companies, has announced that the company plans to launch its IMV 1.0 application next month with the backing of new online media partners. The company previously announced that it had agreed to jointly develop and launch the IMV 1.0 software application with Grigg's, Inc. and had valued the deal at approximately $350,000.
The IMV software is designed to quantify a stock's intraday momentum value in real-time by examining and measuring the combined effect of three price components: the change from the previous close to the opening price, the range between the intraday high and the intraday low, and the change from the intraday high and from the intraday low to the current price, which components are combined and weighted through an algorithm to quantify a stock's intraday momentum value. FinancialContent plans to issue three exclusive enterprise licenses for IMV 1.0 all together. Also available is a "smallcap" license to an investment management firm with up to $100 million in assets, as well as an "institutional" license to an investment management firm with more $100 million in assets.