By Dean Seal
WiSA Technologies shares surged after the company said its subsidiary had signed a five-year license with a major projection TV brand.
Shares were threefold higher at $5.90 after closing Monday at $1.75. The often-volatile stock is still down by two-thirds year-to-date.
The Beaverton, Ore.-based modules maker said before the market opened that its unit, WiSA Association, executed its fourth five-year licensing agreement with a projection TV brand that generates billions of dollars in revenue.
The license allows the brand to integrate WiSA E software into its products, giving them wireless immersive audio options.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 16, 2024 14:59 ET (18:59 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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