Why Shares of Energous Rocketed Higher Today

Shares of Energous (NASDAQ: WATT), a developer of wireless charging technology, soared on Tuesday after the company announced a high-power, Near Field charging solution for electronic devices. Energous claims the solution can provide devices with up to 10 watts of power. The stock was up about 23% at market close.

Energous' new solution is aimed at smartphones, tablets, smart speakers, game controllers, drones, and other small electronic devices. It's a reference design, adding to the company's catalog of reference designs that span a wide range of power levels and use cases.

A WattUp Near Field transmitter plugged into a laptop. Image source: Energous.

Source: Fool.com