WiSA Technologies (NASDAQ:WISA) stock is rocketing higher on Tuesday after the wireless technology company announced a new licensing agreement with a major HDTV/PTV brand.
According to a press release from WiSA Technologies, this marks the fourth such company that it has signed a licensing agreement with. This deal covers five years of integration of WiSA E software into the company’s products.
WiSA Association President Tony Ostrom said the following about the news:
“We are very pleased that yet another major HDTV brand recognizes the value of our WiSA E technology, as well as our licensing model for market deployment […] With four major TV brands onboard, the market is clearly validating both our technology and our vision of enabling every immersive audio source device with low-cost capability to deliver high-quality interoperable wireless audio to consumers.”
How This Affects WISA Stock
Investors are celebrating this news as its another major deal for the wireless audio business. This secures more revenue for the company and helps spread its suite of audio services to more customers.
With this comes heavy trading of WISA stock this morning. That has more than 66 million shares changing hands as of this writing. This is a massive increase compared to its daily average trading volume of about 221,000 shares.
WISA stock is up 83.3% as of Tuesday morning but is still down 81.9% since the start of the year.
Investors who want more of the most recent stock market stories are in luck!
We have all of the hottest market news ready to go on Tuesday! Among that is what has shares of BuzzFeed (NASDAQ:BZFD) stock, Fisker (OTCMKTS:FSRN) stock and Trump Media & Technology (NASDAQ:DJT) stock moving today. All of that info is ready below!
More Stock Market News for Tuesday
- BZFD Stock: BuzzFeed Is Prepping for a Reverse Stock Split
- Fisker Risk Forces Wall Street to Downgrade Magna (MGA) Stock
- DJT Stock: 21 Million Reasons Trump Media Shares Are Struggling to Stay Afloat
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On the date of publication, William White did not hold (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.
