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FOCUS LIST🔎
WISA – Up over 65% in the pre-market after $210 million definitive agreement to purchase assets, including high-performance computing (HPC) software and acoustic technologies IP, from Data Vault Holdings Inc.
CYN – Up over 25% in pre after securing its 20th U.S. patent: Adaptive Motion Compensation of Perception Channels
WDH – Up over 4% in pre after announcing Q2 2024 unaudited financial results, a special cash dividend, with Net profit rise of 306.9% year-on-year
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HOTLIST🔥
WISA – Up over 65% in the pre-market after $210 million definitive agreement to purchase assets, including high-performance computing (HPC) software and acoustic technologies IP, from Data Vault Holdings Inc.
WiSA Technologies, Inc. (WISA) develops and markets spatial, wireless sound technology for smart devices and next-generation home entertainment systems under the WiSA brands. Its technology delivers immersive audio experiences for content, including movies and video, music, sports, gaming/esports, and other.
In the pre-market this morning, the company announced that it has executed a definitive asset purchase agreement to purchase the Datavault® intellectual property and information technology assets of privately held Data Vault Holdings Inc.® for $210 million, consisting of 40 million shares of common stock of WiSA Technologies to be issued at $5 per share plus a $10 million 3-year Note. Closing, subject to customary conditions and approval by the stockholders of WiSA Technologies, is expected to occur prior to December 31, 2024.
The resulting publicly traded data technology and licensing company will enable clients and strategic partners to monetize their Blockchain Data and AI Web 3.0 assets via tokenization, data ownership and digital twins. Following the asset acquisition, the company will include the Datavault and ADIO assets, talent and experience with WiSA Technologies to offer two solutions.
Data Sciences will license High Performance Computing (HPC) software applications and Web 3.0 data management serving biotech research, energy, education, fintech, real estate, healthcare, among others.
Acoustic Sciences will license spatial and multichannel HD sound transmission, including ADIO®, WiSA® and Sumerian™, to customers in sports & entertainment, events & venues, restaurants, automotive, finance, and other industries.
WISA stock traded up over 65% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $2.39.
Beyond that, $2.80 and $3.20 come into play.
Below $2.39, targets to the downside are $2.20, $2, $1.88, $1.60 and then a gap fill at $1.36.
CYN – Up over 25% in pre after securing its 20th U.S. patent: Adaptive Motion Compensation of Perception Channels
Cyngn Inc. (CYN) an autonomous vehicle (AV) technology company, develops autonomous driving software.
In the pre-market this morning, the company announced the official granting of a new patent, U.S. Patent No. 12,032,099, which introduces a method to maintain the accuracy of data collected by an autonomous vehicle’s sensors as the vehicle moves.
At its core, the patent optimizes sensor data processing by integrating advanced LiDAR and image technologies.
CYN traded up over 25% in the pre-market in reaction to the news.
The $3.90 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $4.15, $4.40, $4.60, and then the pre-market high at $5.07. Beyond that, $5.22 and $6 come into play.
Below $3.90, there is a gap to fill at $3.63 and then $3.50 comes into play.
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WDH – Up over 4% in pre after announcing Q2 2024 unaudited financial results, a special cash dividend, with Net profit rise of 306.9% year-on-year
Waterdrop Inc. (WDH) through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China.
In the pre-market this morning, the company reported its unaudited financial results for Q2 2024. During the quarter, Waterdrop reported net operating revenue of RMB 676 million.
Net profit attributable to ordinary shareholders totaled RMB 88.3 million, up 306.9% from the previous year, sustaining profitability for the tenth consecutive quarter. Operating expenses, including sales, administrative, and R&D costs, accounted for 45.1% of revenue, a decrease of 12 percentage points year-on-year.
In addition, Waterdrop also completed the first special cash dividend in the past quarter. Waterdrop declared that, with the board approval, the company will soon start the second special cash dividend of approximately US$7.5 million.
The stock traded up over 4% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $1.10. Beyond that, $1.16, $1.21 and $1.30 come into play.
Below $1.10, there is a gap to fill at $1.06 with $1 below that.
MARKET NEWS 📰
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