Summit Wireless Technologies (NASDAQ:WISA) Stock Resumes The Uptrend: Good Time to Buy Now?
Summit Wireless Technologies (NASDAQ:WISA) jumped 9% on news that it launched on Amzon.com Inc. (NASDAQ:AMZN) Storefront. The Amazon Storefront is meant for the company’s WiSA, an organization comprising over 60 members for “Wireless, high resolution, multi-channel audio” certification.
As per the company’s press release, the Storefront will avail all WiSA approved products within the Amazon marketplace to one location. As a result, it will be easier for consumers to select devices meeting WiSA standards. Notably, WISA covers various products used for entertainment, including speakers, TVs, and transmitters. Interestingly, there will be promotional bundles available for the devices on the Storefront.
WiSA president Tony Ostrom said they are delighted to offer brand loyalists and consumers an opportunity to buy a range of doe WiSA certified home entertainment products with just a touch of a button. He added that with the consumer electronics market expanding, there is a need to have a customer-friendly store to select and compare products prices quickly. Therefore WISA is a stock to watch in weeks to come.
Market Reaction:
On Wednesday, WISA stock moved up 8.70% at $3.75 with more than 365k shares, compared to its average volume of 2.87 million shares. The stock has moved within a range of $3.5200 – 3.8600 after opening the trade at $3.57. Over the past 52-week, the stock has been trading within a range of $1.7200 – 7.0600.
