STOCKS TELEGRAPH

Tag: Summit Wireless Technologies

  • Summit Wireless Technologies, Inc. (WISA) stock is declining today; here is why?

    Summit Wireless Technologies, Inc. (WISA) stock is declining today; here is why?

    Summit Wireless Technologies, Inc. (WISA) stock declined in the current market after the company announced its preliminary results of revenues of fiscal 2021. WISA was valued at $1.28 in the current market, losing around 3.74% from the previously closed value. At the end of the last trading session, the stock of WISA closed at $1.34. The stock traded volume in the previous trading session was around 222.15K shares.

    WISA 2021 Preliminary Results

    • In the fourth quarter of 2021, the company expects around $2 million in revenue. It will increase by 90% from the fourth quarter of 2020. In the fourth quarter of 2020, the revenue was $1.038 million. The increase in the revenue is due to the introduction of Wave.
    • Summit Wireless Technologies, Inc. (WISA) expects fiscal 2021 revenue of around $6.541 million. It is an increase of 170% from fiscal 2020. The revenue in fiscal 2020 was $2.404 million.
    • As of December 31, 2021, the company expects preliminary cash and cash equivalents of around $13.1 million.
    • In the fourth quarter of 2021, the Wave attracted more than 1 million customers. The overall number in the whole fiscal year is more than 2 million. It is a massive increase of more than 445% from 2020 compared to the previous fiscal year. The numbers of customers were 365,800.
    • The fourth quarter of 2021 will be the 6th consecutive quarter seeing a consistent increase in the revenue.

    Effect on the WISA stock

    Summit Wireless Technologies, Inc. (WISA) is hoping for some positive numbers, but its value declined in the current market. It might be due to excessive trading after the demand of the stock. Seeing its previous trend, WISA might remain around the same position in the current market.

    Conclusion

    Summit Wireless Technologies, Inc. (WISA) outlook for fiscal 2022 is very optimistic. The company said that it would continue building WISA’s technology brand and expect to expand to the markets of Europe and China. It will help them to increase their customers between 3-5 million. They also intend to launch more products.

  • Summit Wireless Technologies, Inc. (WISA) stock is Popping High today: Why is it so?

    Summit Wireless Technologies, Inc. (WISA) stock announced the launch of its custom Amazon storefront after which the stock price saw a push of  40.79% to reach $5.73 a share as of this writing. The momentum was already created in the previous trading session as WISA stock went high by 16.95% at closing. Let’s deep dive to explore more of it.

    What’s Happening?

    Summit Wireless Technologies, Inc. is engaged in the developing, manufacturing, and selling of integrated circuits for home entertainment as well as the audio market in the United States and many other countries across the globe. The stock announced the launching of its Amazon Storefront through which it would sell its all-certified products. The customer experience would be strengthened as the WISA products would be purchased easily from one page.

    WiSA’s Amazon storefront will play a major role in the continued growth of the global wireless WiSA Certification category that includes wireless transmitters, TVs and WiSA surround sound configurations in which Dolby Atmos is also included.

    WiSA Wave Marketing Program:

    WISA stock is expecting 2 million visitors to its website due to the success of its efficient WiSA Wave  Marketing Program. The team is working closely with consumer electronic members in order to create a successful dedicated online store. The wave marketing campaign is focused on educating the benefits of WiSA to its target audience. The wave initiatives also emphasizing the benefits of home cinema experiences that member brands are delivering to their consumers.

    WiSA SoundSend Certified Program:

    Yesterday on July 21, 2021, WISA stock did announce that it has launched its WiSA SoundSend Certified Program. The purpose of this initiative by the WISA stock is to work with TV manufacturers in order to make a simple and flawless connection and interoperability with the WiSA SoundSend wireless audio transmitter along with Toshiba TV “REGZA”.This will be the first TV brand that will deliver solutions with the new certifications.

    After passing the successful test to work perfectly with SoundSend, Smart TVs will then get the WiSA SoundSend certified status. The test will include all the audio connections as well as control requirements between Smart TV and SoundSend.

    Conclusion:

    Things are going well for WISA stock as far as market sentiment is concerned. The Amazon StoreFront and WiSA SoundSend Certified program would significantly help in the growth of the stock.