WISA Stock: The Amazon News Sending Summit Wireless Technologies Shares Soaring

Summit Wireless Technologies (NASDAQ:WISA) stock is soaring higher on Thursday thanks to news of it launching an Amazon (NASDAQ:AMZN) Storefront.

Source: soul_studio / Shutterstock.com

The Amazon Storefront is for Summit Wireless Technologies’ WiSA. This is the company’s organization made up of more than 60 members for certifying”wireless, high-resolution, multi-channel audio.”

According to a press release from Summit Wireless Technologies, this Amazon Storefront brings all WiSA Certified products on Amazon to one location. This makes it easier for consumers to pick out devices that meet the WiSA standard.

WiSA covers a wide range of products that owners use for entertainment. That includes TVs, speakers, as well as transmitters. There are also promotional bundles for these devices included on the Amazon Storefront.

Tony Ostrom, president of WiSA, said this about the news boosting the company’s stock higher.

“We’re excited to offer consumers and brand loyalists this new opportunity to shop for a wide variety of WiSA Certified™ home entertainment systems and components at the touch of a button. As the consumer electronics industry continues to expand, it’s important to have a user-friendly store that allows consumers to quickly find and compare products and prices to build systems that best suit their needs.”

WISA stock is also seeing heavy trading today. As of this writing, more than 90 million shares of the stock have changed hands. That’s a massive jump compared to its daily average trading volume of 1 million shares.

WISA stock was up 39.8% as of Thursday morning.

There’s more stock market news for savvy investors below!

See also  Buy CCIV Stock After the Inevitable Post-Merger Dip

InvestorPlace offers the latest coverage of the market with daily deep dives into the most relevant stocks. That includes the latest news for India Globalization Capital (NYSE:IGC), Clover Health (NASDAQ:CLOV), and Marin Software (NASDAQ:MRIN). You can learn all about these matters at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed

View more information: https://investorplace.com/2021/07/wisa-stock-the-amazon-news-sending-summit-wireless-technologies-shares-soaring/

View more information: Finance

Leave a Reply

Back to top button