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Why Summit Wireless Technologies Is Trading Lower Today


Summit Wireless Technologies (NASDAQ: WISA) shares are trading lower on Wednesday, after the company announced a 2.04 million shares common stock offering at $2.61 per share.

Summit Wireless Technologies semiconductor company developing wireless audio integrated circuits for consumer audio markets. Its Summit Wireless technology is the leading integrated circuit solution enabling audio systems to distribute high-definition, and distortion-free audio with ease.

The company's summit wireless transmit technology is designed to be integrated into audio decode sources such as digital televisions, sound bars, AV receivers, Blu-ray players, set-top boxes, and gaming systems that transmit multi-channel audio to speakers with Summit receive technology integrated.

Summit Wireless Technologies shares were trading down 19.33% at $2.42 on Wednesday. The stock has a 52-week high of $27 and a 52-week low of $2.16.

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