The reaction to the USPTO's confirmation of the underlying claims of patent '420 was pretty muted. In fact, it has corrected after the initial spike. Perhaps there have been too many articles and discussions, and too many positive and negative news flows over the last few months. The stock has moved accordingly, and the reactions have gotten less strong. Though there is a realization that it may still take time for the Vringo investors to be rewarded, the importance of the PTO's confirmation cannot be negated. Even prior to this news, the stock has remained resilient as it has always taken support around $2.75. Now that this uncertainty is out of the way, the lower supports will get stronger. In fact, the stock may bounce even before touching these important supports. Basically, the short-term downside risk is less. Being negative is no longer a very good option. However, the litigation may still have many twists and turns, and timelines are not certain. So there are always the associated risks and delays. Google has so far done well to delay matters, but that may cost it money if it fails in its endeavor. The workaround story is also not so believable till it is conclusively proven. Thus, future royalties cannot be ruled out straight away. Those who believe in Vringo will remain with it, others will sway with the news. Vringo may have inspired many smaller companies to pursue monetizing against bigger companies. Companies have even changed their business model to optimize the value of the patents they possess. As mentioned in an article on seekingalpha, Spherix (SPEX) is a recent example of a transformation where it has bought several patents and become a full service IP company. For Vringo, predicting the short term movement is not easy. The long term prospects are surely better.