Core Viewpoint - Immersion Corporation has adopted a temporary shareholder rights plan to protect the interests of all shareholders and reduce the likelihood of any person or group gaining control without proper compensation [1][7]. Summary by Sections Shareholder Rights Plan - The Rights Plan will be triggered if any person or group acquires beneficial ownership of more than 9.99% of Immersion's outstanding common stock and will remain effective until October 31, 2026 [1]. Board's Response to Shareholder Communication - The Board approved the Rights Plan after receiving a letter from shareholder Scott A. Larson, which was deemed to contain inaccuracies and misunderstandings about Immersion's business model [2][3]. Company Performance and Financials - Immersion has achieved strong profitability and revenue from intellectual property settlements, while improving general and administrative efficiency and reducing legal costs [4]. - The Board expressed frustration with the current share price, which does not reflect the company's underlying performance and financial strength, partly due to an ongoing investigation at Barnes & Noble Education [5]. Management and Shareholder Alignment - The management team and directors hold a significant ownership position and have historically made substantial open market purchases, aligning their interests with those of shareholders [6]. Commitment to Shareholder Value - The Board and management are committed to maximizing long-term shareholder value and maintaining stability during the ongoing BNED process, with the Rights Plan serving as a safeguard for strategic execution [7].

Core Insights - The Russell 2000 index has increased by approximately 2.5% in the five days ending September 19, coinciding with a Federal Reserve interest rate cut, which is seen as a potential start of a deeper rate cut cycle in the next 12 months [1][2] Group 1: Small-Cap Stocks and Interest Rates - Lower interest rates are typically favorable for small-cap stocks, especially those that are unprofitable and rely on debt for operations [2] - Analyst support, business fundamentals, and risk profiles are crucial factors for stock purchases, beyond just rate cuts [3] Group 2: Identiv (INVE) - Identiv has a market cap of over $80 million and specializes in RFID and NFC technologies, with a current stock price of $3.68 and a 12-month price forecast of $5.33, indicating a potential upside of 45.09% [4][6] - Despite a revenue decline from $6.74 million to $5.04 million year-over-year, the stock has gained approximately 18% over the past three months due to a strategic pivot towards higher-margin businesses [5][6] - Analysts maintain a consensus Buy rating for Identiv, with a price target suggesting a 47% increase from current levels [6] Group 3: Immersion (IMMR) - Immersion operates in the haptic technology market, valued at $4 billion to $5 billion, with a projected CAGR of 7-10% over the next five to seven years [8][9] - The company primarily earns revenue through licensing its technology, positioning itself as a leader in the haptic space [9] - Analysts have a bullish outlook on Immersion, with a consensus price target of $12.25, representing a potential gain of 67% from current trading levels [10] Group 4: Emergent BioSolutions (EBS) - Emergent BioSolutions has a market cap of $432 million and focuses on supplying medical countermeasures to the U.S. government, providing stable revenue streams through government contracts [12][13] - The company was awarded contracts totaling over $90 million in September 2025, ensuring stable cash flows amid market volatility [14] - Analysts project a price target of $13.50 for Emergent, indicating a potential upside of 52.77% from its current price of $8.84 [12][16]