Why Is WiSA Technologies Stock Surging Premarket Wednesday?
Portfolio Pulse from Lekha Gupta
WiSA Technologies, Inc. (NASDAQ:WISA) shares surged premarket after announcing a $210 million acquisition of Datavault's intellectual property and IT assets. The deal involves $200 million in restricted stock and a $10 million promissory note. The acquisition aims to enhance WiSA's offerings in Web 3.0 and blockchain data monetization. The transaction is expected to close by December 31, 2024, pending approvals.
September 04, 2024 | 10:45 am
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WiSA Technologies' stock surged due to a $210 million acquisition of Datavault's IP and IT assets, enhancing its Web 3.0 and blockchain capabilities. The deal includes $200 million in restricted stock and a $10 million promissory note.
The acquisition is a significant strategic move for WiSA Technologies, expanding its capabilities in the rapidly growing Web 3.0 and blockchain sectors. The market reacted positively, as evidenced by the 66.9% premarket share price increase.
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