Edgewater Wireless soared above its 50 day moving average of $0.271 Thursday, closing at $0.29. Edgewater gapped up nearly 12% on over half a million shares traded. Member ‘Zorta‘ selected Edgewater for July’s Stock Challenge and moved into 7th overall. Edgewater Wireless and its WiFi3 technology have long been a company we’ve written about in recent years. In April of 2015, we produced an exclusive interview with the company’s CEO and President, Andrew Skafel.
https://www.youtube.com/watch?v=_EiwZPDD7fI
Articles such as Edgewater Wireless up 1,000% in March as investors rush in and The ‘unknowable’ potential of Edgewater Wireless’ WiFi3 technology are just two articles previously featured at Pinnacle. Edgewater’s journey as a public company has been one of highs and lows since its initial breakout in early 2015. Rather, with development comes costs and costs usually mean dilution for small-cap tech stocks. Edgewater recently raised $1.36 million at $0.25 per unit; therefore, with more than 140 million shares are now outstanding another 5 million shares, not including warrants, will be added to the total outstanding this fall.
Edgewater Wireless is the developer of multi-channel WiFi3(TM) technology; the technology is patented and designed to solve the high-density WiFi problem that leads to slow connections. While, also significantly reducing the equipment investment and operating costs for new network deployments. Finally, Edgewater has been targeting the hospitality, venue and retail sectors of late.
Edgewater Rises on Mediacom Deal for WiFi3
On July 20th, Edgewater announced a finalized deal with Mediacom Communications. Mediacom is the 5th largest cable operator in the United States and selected aera for a WiFi project at the luxurious WaterColor Inn & Resort in Santa Rosa Beach, Florida.
Edgewater reported this morning that,
“The high-density outdoor common areas of WaterColor including pools, walkways, gaming areas and the beach, which have previously had limited bandwidth, will be powered by WiFi3 technology ensuring everyone’s connected experience is flawless.”
Furthermore,
“In today’s Internet of Things environment more and more people rely on WiFi to support an unlimited number of mobile devices. Mediacom requires a platform that can support a high density of wireless users, with multiple devices while also supporting resort management. Edgewater’s WiFi capabilities will be able to support WiFi connected devices and improve the network as a whole.”
Andrew Skafel, President and CEO of Edgewater Wireless noted,
“The biggest challenges in smart hospitality wireless infrastructure today are capacity and density limitations of current WiFi architecture and we’ve designed WiFi3 specifically to bring a smart solution to resorts and hotel WiFi networks…”
To read the entire quote from this morning’s press release, click here.
Zorta Moves into 7th in July Stock Challenge
Long-time Pinnacle member ‘Zorta‘ selected Edgewater Wireless for July. The Surrey native moved up the ranks Thursday, finishing with a 15.99% combined average return thus far in July. Edgewater Wireless Systems captured the Daily Stock Challenge Breakout award. There are seven trading days left in July and member ‘glohuis‘ is leading all Challengers. glohuis is sitting pretty with a 26.39% return.
