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Confusion On FCC Post Related To RF Wireless Charger, Receiver May Have Created Opportunity In Energous

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Confusion On FCC Post Related To RF Wireless Charger, Receiver May Have Created Opportunity In Energous
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Energous Corp (NASDAQ: WATT) stocks spiked 7.5 percent Tuesday seemingly on news that the Federal Communications Commission’s Office of Engineering and Technology posted an exhibits list for the company’s NF-130 wireless charger and receiver.

Traders appear to have interpreted the move as an indication of regulatory approval, but the inference has not yet been verified. Even if the product listing isn't sign of approval, though, it may suggest forward motion in the FCC process and justify optimism among Energous investors.

From February: Energous CEO Responds To Short-Seller Allegations, Says 'Their Only Purpose Is To Get Rich'

However, although movement on the Street is generally propelled by fact, Tuesday morning's price action could potentially be an instance of traders acting on inadequate information.

Energous and the FCC weren't available for comment at time of publication.

Update, 1:59 p.m. ET: Energous CEO Steve Rizzone confirmed the company's NF-130 Wireless charger/receiver has been approved by the FCC.

Energous pulled back from session highs and was trading up about 3.3 percent at $12.95.

Posted-In: FCC Federal Communications CommissionNews Rumors Legal Movers Tech Trading Ideas Best of Benzinga

 

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