24/7 Market News Snapshot 16 October, 2024 – WiSA Technologies, Inc. Common Stock (NASDAQ:WISA)

October 16, 2024

DENVER, Colo., 16 October, 2024 (247marketnews.com) – (NASDAQ:WISA) are discussed in this article.
WiSA Technologies, Inc. (WISA) is experiencing a positive market response, evidenced by its recent pre-market trading price of $1.905, reflecting an approximate 10.12% increase from the previous close of $1.730. The trading volume of 1.14 million shares underscores strong investor interest and positions WISA for potential continued upward momentum. Recent price movements suggest a breakout above previous resistance levels, indicating a favorable market sentiment towards the stock. Investors are advised to monitor key moving averages and volume patterns to glean insights on the sustainability of this trend, while looking for confirmation signals to support bullish expectations.

In conjunction with this market enthusiasm, WiSA Technologies has announced preliminary revenue estimates for the third quarter of 2024, anticipated to fall between $1.0 million and $1.2 million. This projection demonstrates an impressive sequential growth of over 200%, fueled by rising demand for WiSA’s innovative multichannel wireless audio solutions. CEO Brett Moyer expressed optimism about the company’s business dynamics, crediting the production of WiSA HT and the recent launch of WiSA E IP in collaboration with one of its multi-national licensees. This strategic partnership, among a select group of five current WiSA E license holders, has led to the successful integration of WiSA’s technology into various audio devices.

The activation of WiSA E transmit functionality is expected to generate recurring royalty revenues and bolster sales from WiSA E-enabled receiver modules, supported by Realtek’s Wi-Fi chip. The company anticipates a significant ramp-up in shipments to this partner, with further deployments slated for 2025. With five WiSA E licensing agreements already in place and a target of eight by the end of 2024, WiSA is strategically positioned to capture market share in the audio technology arena. As the company prepares to file its Form 10-Q for the third quarter on November 14, 2024, it reaffirms its commitment to transparency and strengthening its investor relations while driving advancements in the wireless audio sector.

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