WISA Stock: The Amazon News Sending Summit Wireless Technologies Shares Soaring


Summit Wireless Technologies (NASDAQ:WISA) stock is soaring higher on Thursday thanks to news of it launching an Amazon (NASDAQ:AMZN) Storefront.

A person watching YouTube on TV representing WISA stock.

Source: soul_studio / Shutterstock.com

The Amazon Storefront is for Summit Wireless Technologies’ WiSA. This is the company’s organization made up of more than 60 members for certifying”wireless, high-resolution, multi-channel audio.”

According to a press release from Summit Wireless Technologies, this Amazon Storefront brings all WiSA Certified products on Amazon to one location. This makes it easier for consumers to pick out devices that meet the WiSA standard.

WiSA covers a wide range of products that owners use for entertainment. That includes TVs, speakers, as well as transmitters. There are also promotional bundles for these devices included on the Amazon Storefront.

Tony Ostrom, president of WiSA, said this about the news boosting the company’s stock higher.

“We’re excited to offer consumers and brand loyalists this new opportunity to shop for a wide variety of WiSA Certified™ home entertainment systems and components at the touch of a button. As the consumer electronics industry continues to expand, it’s important to have a user-friendly store that allows consumers to quickly find and compare products and prices to build systems that best suit their needs.”

WISA stock is also seeing heavy trading today. As of this writing, more than 90 million shares of the stock have changed hands. That’s a massive jump compared to its daily average trading volume of 1 million shares.

WISA stock was up 39.8% as of Thursday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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