WiSA Technologies (NASDAQ: WISA) stock climbed during intraday trading Thursday after the company reported growing adoption of WiSA E Software.
WiSA Technologies announced that its WiSA E software is experiencing significant momentum, which is rapidly gaining traction in the $296 billion wireless audio market. The company has recently secured new licensing agreements, reflecting the growing market interest in its innovative audio solutions.
Brett Moyer, CEO of WiSA Technologies, highlighted the growing demand for the company’s innovative technology, stating,
“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.”
He continued,
“We have gained significant momentum given the recent deals we’ve signed and are just on the cusp of gaining leadership in the space.”
Moreover, the company has reported advancements in the wireless audio market with its WiSA E multichannel software. This software allows consumer electronics manufacturers to integrate wireless audio functionality into streaming media devices without costly hardware, reducing production costs.
For end users, WiSA E offers the flexibility to easily add multichannel audio capabilities to their home audio setups without requiring extensive engineering work. The software’s interoperability ensures seamless compatibility across various products and brands, making it an attractive option for manufacturers and consumers.
WiSA Technologies (NASDAQ: WISA) Stock Movement
On Thursday, WISA stock surged 15.94%, closing at $2.40, marking an 11.11% increase for the week. The trading volume was 51,649,868 shares, significantly higher than the average daily volume of 7.18 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
