WiSA Technologies Shares Surge After Company Highlights Increased Demand: What's Going On?

WiSA Technologies, Inc. WISAHTTPSWISA shares are trading higher on above-average volume Thursday afternoon, driven by increased demand for its proprietary WiSA E wireless audio technology and recent licensing deals.

What’s Going On: WiSA Technologies announced that it has seen significant momentum with its WiSA E software, which has been gaining traction in the $296 billion wireless audio market. The company said it has secured new licensing agreements, highlighting the market’s growing interest in its innovative audio solutions.

“Consumers are searching the market for the type of disruptive technology that we have created, and our manufacturers and partners are seeing the benefits of our software,” said Brett Moyer, CEO of WiSA Technologies. “We have gained significant momentum given the recent deals we’ve signed and are just on the cusp of gaining leadership in the space. 

Related Link: WiSA E Continues to Expand Presence in the $296 Billion Wireless Audio Market with Innovative Licensing Deals

The company also reported continued penetration into the wireless audio market with its WiSA E multichannel software. The aforementioned software allows consumer electronics manufacturers to integrate wireless audio functionality into streaming media devices without the need for costly hardware, thereby reducing production costs.

For end users, WiSA E offers the flexibility to add multichannel audio capabilities at any time, enhancing their home audio setups without extensive engineering work. The software’s interoperability ensures seamless compatibility across different products and brands, making it a compelling choice for manufacturers and consumers alike.

WiSA Technologies’ average session volume is about 6.3 million, according to Benzinga Pro. Thursday’s trading volume has already exceeded 49 million at publication time.

Price Action: WiSA Technologies shares were up 35.7% at $2.81 at the time of writing, according to Benzinga Pro.

See Also: Why Cybersecurity Company SecureWorks Shares Are Seeing Blue Skies Today

Image: Shutterstock.