Tech Shares Snap Losing Streak And Rally +100% During Wednesday's Session

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Wednesday, September 4, 2024

A Oregon-based technology company absolutely stole the show on Wednesday after it announced that it executed a definitive asset purchase agreement to purchase the Datavault intellectual property and information technology assets of privately held Data Vault Holdings for $210 million, according to the release. 

Share of WiSA Technologies Inc. (Nasdaq:WISA) rallied strongly on the news, with shares of the micro cap reaching up to $2.99/share (+119.85%) at the session high (at the time of writing). This move was a strong breakout of the relatively consistent downtrend this stock has been stuck in all year. 

WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and others, the company delivers immersive wireless sound experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. WiSA Technologies, Inc. is a founding member of WiSA(TM) (the Wireless Speaker and Audio Association) whose mission is to define wireless audio interoperability standards as well as work with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to evangelize and market spatial audio technologies driven by WiSA Technologies, Inc. The company is headquartered in Beaverton, OR with sales teams in Taiwan, China, Japan, Korea, and California.

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