On December 27th, the WATT stock went soaring. This is because Energous Corporation (NASDAQ:WATT) announced that the FCC has approved one of its products.
Energous Corporation is a development stage technology company, based in San Jose, California. It believes in utilizing all that technology has to offer, particularly when it comes to IoT devices, e-readers, keyboards, mouses, and smartphones. It is also the developer of a wireless charging 2.0 technology called WattUp.
Today, the company announced first customer product approval from the FCC. What this means is that the WattUp-enabled PSAP can now be sold in the United States—good news, no doubt, for WATT stock. For those who don’t know, PSAP stands for personal sound amplification products, and they are used by the hearing impaired, similar to hearing aids. WattUp is unique, however, as it is wireless and users can charge it simply by placing it on a charging pad. This eliminates the frustration that often occurs when users have to frequently charge their batteries.
“FCC approval of the Delight PSAP hearing device is a very significant and positive announcement for Energous,” said Energous Corporation’s CEO Stephen R. Rizzone. He went on to say that even though there have been delays trying to get to this point, “the customer funnel is robust.”
To no surprise, WATT stock is a Yahoo Finance trending ticker of the day. As of 3:49 PM, according to Yahoo Finance, Energous Corporation is trading at $7.05, putting the stock up 53.98%.
This is huge news for Energous Corporation, and things are expected to take flight in the new year. “We believe this is the first of many WattUp-enabled consumer electronic products in a number of growing vertical markets that will be going into full production in 2019,” explained Stephen R. Rizzone.
As a result, investors should be vigilant in 2019 and watch this stock’s movement.
Featured Image: Depositphotos/anaken2012