Why Wearable Devices Stock Is Rising

Wearable Devices Ltd. WLDS shares surged Thursday after it was announced that its preeminent consumer product, the Mudra Band, designed for touchless operation of Apple Inc's AAPL Apple Watch, is now available for preorder.

The Mundra Band has expanded its capabilities using AirTouch, allowing users to use products across Apple's ecosystem of devices without physical touch.

Asher Dahan, CEO at Wearable Devices, laid out the plans for the release when he said, "As we prepare for our first volume manufacturing batch of the band, we are scaling our marketing and support capabilities to accommodate the considerable early demand we're seeing for our products with thousands of preorders already received, and our objective is to begin shipments in the second half of 2023."

Wearable Devices is a tech company focused on developing AI-powered touchless sensing wearables.

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WLDS Price Action: Shares of WLDS were halted multiple times in early trading Thursday.

The stock was up 224.7% at $1.48 at the time of publication, according to Benzinga Pro.

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