Wed, May 22, 2024

WiSA Technologies Soars 17.1% on New 5-Year HDTV Deal

CCL Argo Blockchain

Quick Look: 

  • WiSA Technologies’s stock jumped 17.1% following a five-year licensing deal with a top HDTV brand.
  • The deal involves integrating WiSA’s E software in HDTV/PTV products, enhancing audio quality.
  • Despite a previous 59.7% YTD decline, this deal boosts WiSA’s market position and investor confidence.

WiSA Technologies, traded under the symbol WISA on the NASDAQ, experienced a significant surge in its stock value following a recent announcement. The company revealed a new five-year licensing agreement with a leading HDTV/PTV brand, marking a strategic expansion in its commercial reach. This announcement catalysed a 17.1% increase in the company’s stock price, with trading volumes soaring to 44 million shares, significantly above the average daily volume of 3.4 million.

WiSA Expands with 4th Major HDTV/PTV Brand

The licensing agreement encompasses the integration of WiSA’s proprietary E software into the products of the HDTV/PTV brand. This is the fourth major brand to adopt WiSA’s technology. WiSA Technologies E-software enhances audio experiences across consumer electronics, including HDTVs, PTVs, soundbars, and speakers. Key integration partners such as Realtek, Amlogic, Mediatek, and Novatek support this software, ensuring broad compatibility and performance.

WiSA’s Deal Counters 59.7% YTD Stock Drop

Despite the year-to-date performance showing a 59.7% decline, this new deal represents a pivotal turnaround opportunity for WiSA Technologies. The announcement not only boosts investor confidence. However, it also positions WiSA as a key player in the audio enhancement space for consumer electronics. The market reacted positively with a major rally, highlighting investor optimism about the potential for expanded market share and revenue streams.

Market Varies as WiSA Technologies Outperforms Peers

In contrast to WiSA’s gains, other NASDAQ and NYSE-listed companies experienced varied movements. Edible Garden (NASDAQ: EDBL) and CleanSpark (NASDAQ: CLSK) also saw shifts in trading. However,  Alcoa (NYSE: AA) continued to react to sector-specific trends.

WiSA Eyes Sustained Growth from E-Software

WiSA’s strategic licensing agreement could set the stage for further adoption of its E software, potentially leading to sustained improvements in its stock performance and market valuation. With interoperability fully supported across WiSA E-enabled speakers, the enhanced user experience could drive further integration deals, underpinning WiSA’s growth trajectory in the competitive consumer electronics market.

YOU MAY ALSO LIKE

Pendle Crypto stock Market

Quick Look: Marathon Digital Holdings’ share price increased by 35% in the

Gold

Quick Look: Gold prices dip to $2,411, following recent record highs. FOMC

Alphabet, google, parent, stocks,

Quick Look: Google introduced AI-generated answers called AI Overviews to enhance search

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who

BROKER NEWS

Broker News

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who will