Shares of WiSA Technologies, Inc. (WISA) were surging more than 60 percent in pre-market on Wednesday to $9.77, continuing its uptrend from yesterday. Tuesday, the company said WiSA Association, a unit of the company, signed yet another WiSA E licensing agreement with a multi-billion dollar revenue company. This is the company's fourth 5-year WiSA E licensing agreement with a major HDTV brand. Yesterday's increase in share price followed the company effecting reverse stock split on 15th.
WiSA Technologies develops, manufactures, and sells audio wireless technology for smart devices and next-generation home entertainment systems.
"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," said Tony Ostrom, president of the WiSA Association.
Tuesday, the company's shares had closed at $6.10, up 248.57 percent. The stock has traded in the range of $1.50 - $402.00 in the last 1 year.
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