WISA launches WiSA Amazon Storefront; Shares Hit Record High

WiSA LLC, a unit of Summit Wireless Technologies, Inc. (WISA), announced the launch of its custom-branded Amazon Storefront, which will host all WiSA Certified products on a single page. Shares rallied as much as 73.5% following the news and closed the day up 13% at $4.60 on July 21.

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Summit Wireless Technologies manufactures wireless audio products. The company founded the Wireless Speaker and Audio Association (WiSA) LLC, an association of more than 60 member brands dedicated to creating the most reliable interoperability standards to deliver immersive sound via intelligent devices. (See Summit Wireless Technologies stock charts on TipRanks)

Member brands include brands like LG, Hisense, Klipsch, HARMAN, Enclave, and Platin. Together they created the Amazon Storefront as part of WiSA’s ongoing Wave Marketing Program, which is expected to hit 2 million visitors this year. Having customers view all of the members’ products on one page makes purchases easier and gives them a complete shopping experience.

The Amazon Storefront hosts all categories of WiSA Certified appliances, including TVs, wireless transmitters, speakers, as well as promotional bundles from retail partners like Electronic Express and Walts TV.

WiSA President Tony Ostrom said, “Amazon has rightfully become the most trusted online marketplace… As the consumer electronics industry continues to expand, it’s important to have a user-friendly store that allows consumers to quickly find and compare products and prices to build systems that best suit their needs.”

Additionally, Wave initiatives focus on educating consumers on the benefits that WiSA’s technology delivers to a global audience.

Moreover, Wave aims to make retail storefronts the primary destination for consumers to make educated purchases.

Overall, WISA has a Moderate Buy consensus rating based on 2 unanimous Buys. The average Summit Wireless Technologies price target of $5.75 implies 25% upside potential to current levels. Shares have gained 101.8% over the past year.