24/7 Market News Snapshot 15 November, 2024 – WiSA Technologies, Inc. Common Stock (NASDAQ:WISA)

November 15, 2024

DENVER, Colo., 15 November, 2024 (247marketnews.com) – (NASDAQ:WISA) are discussed in this article.
WiSA Technologies, Inc. (NASDAQ:WISA) has recently reported a significant increase in its stock performance, opening at $1.94 and currently trading at $2.101, reflecting an 8.3% rise and highlighting a bullish trend as it surpasses its previous close. With a notable trading volume of 953.62K shares, investor interest remains strong, suggesting potential for continued upward movement. The stock’s technical indicators reveal a solid support level at $1.94, with resistance possibly being tested around $2.10, making WISA a noteworthy option for both short and long-term investors.

In addition to its stock performance, WiSA is making headlines with a strategic acquisition aimed at revolutionizing its business model. The company has entered into an agreement to integrate the AI, blockchain, and Data Web 3.0 intellectual property assets of Data Vault Holdings, Inc. This acquisition is expected to position WiSA as a formidable player in the data technology and licensing sector by harnessing high-performance computing capabilities.

The company’s Q3 2024 financial results further underscore its growth trajectory, reporting a remarkable 240% sequential increase in revenue. This accomplishment is attributed to the success of its WiSA HT product line and the newly launched WiSA E IP, which is now in production with a multinational licensee. CEO Brett Moyer noted, “This growth is particularly driven by a surge in components sales,” with Q3 revenue reaching $1.2 million—a 52% increase year-over-year.

In line with its strategic expansion, WiSA is also bolstering its financial leadership by appointing Stanley Mbugua as Vice President of Finance, effective November 30, 2024. As WiSA Technologies continues to innovate and expand its market presence, it is dedicated to enhancing the immersive audio experience for consumers globally. Analysts and investors alike are encouraged to observe the unfolding developments as the company sets its sights on new horizons.

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