24/7 Market News Snapshot 23 December, 2024 – WiSA Technologies, Inc. Common Stock (NASDAQ:WISA)

December 23, 2024

DENVER, Colo., 23 December, 2024 (247marketnews.com) – (NASDAQ:WISA) are discussed in this article.
WiSA Technologies, Inc. (NASDAQ:WISA) has successfully secured stockholder approval for the significant acquisition of the Datavault® intellectual property and technology assets from Data Vault Holdings Inc., with an overwhelmingly supportive 94% of stockholders voting in favor. This pivotal transaction involves the issuance of 40 million shares of restricted common stock alongside a $10 million, three-year note, paving the way for the acquisition to be finalized by December 31, 2024, subject to customary conditions.

This strategic move is anticipated to redefine WiSA Technologies’ role within the data technology landscape, providing an immediate boost to its portfolio through a wealth of patents applicable across various sectors including sports and entertainment, biotech, education, fintech, real estate, healthcare, and energy. Following the completion of this acquisition, the company plans to operate under the new name Datavault Inc. The initiative aims to empower clients and strategic partners in leveraging their Blockchain Data and AI Web 3.0 assets through forward-thinking solutions such as tokenization, data management, and digital twins.

CEO Brett Moyer expressed enthusiasm regarding the stockholder endorsement, describing it as a critical juncture in the company’s development trajectory aimed at expanding market presence and delivering enhanced value across multiple industries. Nathaniel T. Bradley, CEO of Data Vault Holdings, also highlighted the acquisition’s potential to streamline capital access and stimulate commercial expansion.

Furthermore, the proprietary software and encryption framework of the Datavault platform facilitates secure data management and monetization within the evolving Web 3.0 ecosystem, bolstering privacy and credential protection while ensuring customization and automation.

In addition to this bullish outlook, WiSA’s stock opened today at $1.91, trading at $1.825, reflecting a decline of approximately 7.35%. This recent downtrend, characterized by a trading volume of 5.83 million shares, may suggest profit-taking strategies or a bearish sentiment from traders. Monitoring critical support and resistance levels at $1.70 and $1.91 respectively will be vital as the market responds to these developments.

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