Penny Stocks On Robinhood #1: Energous Corp.
Shares of Energous Corp. (WATT Stock Report) saw a very active pre-market session on April 21. WATT stock previously closed at $1.05 and climbed to highs of over $3.25 before the opening bell. While momentum was strong, WATT stock continued to climb after the opening bell to early highs of $3.80; up 262% from its April 20 close. As of 10:30 AM EST, WATT stock has held above $2.70.
What’s moving WATT stock on Tuesday? The first place we can look is in the corporate headlines. The first thing that pops up is a big announcement from the company. Around 6AM EST the company reported that it received FCC certification for an over-the-air, power-at-a-distance wireless charging transmitter. The new technology is expected to make it easier for consumer electronic, medical, industrial and automotive manufactures to integrate the WattUp technology.
“The ability to charge devices at a distance has always been the ultimate goal for Energous and will be a major differentiator,” said Mark Tyndall, senior vice president of corporate development and strategy at Dialog Semiconductor. But something else to note amid all of this big news is something that was seemingly “slid into the press release”. If you look at the final verbiage, you’ll see that the company stated it withdrew “its cumulative forecast previously announced on February 26, 2020, as a result of uncertainty related to the impact of COVID-19.”
