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March 30, 2008 Stock Pick: Neonode, Inc. (NEON)

Stock Price: $2.51

Neonode, Inc. designs and develops intuitive technologies and products with a focus on solutions that increase the user experience of complex or monotonous devices. The company has offices in Stockholm, Sweden, San Ramon, USA, Shanghai and Hong Kong, China.

NEON created a phone called the Neonode N2. It is a very small, touch screen cell phone. The phone uses the company's proprietary ZForce touch-screen technology. Unlike the iPhone, the N2 phone uses optical technology for navigation.

The N2 is currently only available for sale in a few select markets (mostly European), so there is significant upside potential associated with their product.

NEON is currently trading at a market cap of only around $59.52 million. Considering the company is becoming well positioned in the cell phone space, we believe this is undervalued. NEON is working off a bottom in its chart and has a 52-week high of $8.30.

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