Why Wearable Devices (WLDS) Stock Is Exploding 40% Higher

Wearable Devices Ltd WLDS shares are trading higher by 40.48% to $2.06 Thursday morning. The stock is surging after the company commenced commercial manufacturing of the Mudra Band for the Apple Watch.

Per the company, Wearable Devices utilized an innovative manufacturing technique for the Mudra Band, combining flex-rigid printed circuit boards for enhanced durability, flexibility and seamless integration with the Apple Watch.

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WLDS stock is rising on heavy volume Thursday morning with 23 million shares traded, representing a better than 8x increase from the trailing 100-day volume of 2.8 million shares. The increase in share price is taking place as the stock trends across social media platforms.

According to data from Benzinga Pro, WLDS has a 52-week high of $5.85 and a 52-week low of $0.39.