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VirnetX Holding Corp (VHC) stock soared to a 52-week high of $9.68, marking a significant milestone for the company known for its internet security software and technology. According to InvestingPro data, the stock has delivered impressive returns of 21% in the past week and over 57% in the last six months. This peak reflects a remarkable year-over-year surge, with the stock experiencing a 45.28% increase in value. Investors have shown growing confidence in VirnetX's market position and its potential for sustained growth, as evidenced by the stock's impressive performance over the past year. Technical indicators from InvestingPro suggest the stock is currently in overbought territory, with 13 additional ProTips available for subscribers. The company's strategic initiatives and financial position have contributed to the positive sentiment, propelling the stock to this new high. With a current ratio of 6.17 and more cash than debt on its balance sheet, the company maintains strong liquidity, though InvestingPro analysis indicates the company is currently burning through cash rapidly.
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