Edgewater Wireless Systems (YFI:TSXV) closed 50% higher Wednesday on massive volume of 14.3 million shares traded.
Edgewater Wireless Systems’ stock continues higher
Edgewater Wireless Systems’ stock has been on a tear in recent weeks. The company is the manufacturer of multi-channel WiFi3 technology for high-density WiFi applications.
Edgewater is the latest TSX Venture tech stock to go viral. It seems every week a new tech or pharmaceutical stock breaks out and, this week, it is Edgewater Wireless.
Edgewater Wireless traded more volume than any other stock on the TSX Venture Wednesday. It is the latest tech stock to break out on the exchange, which has seen a flurry of tech and pharmaceutical stocks rise to prominence in the past 6 months.
What is so shocking about Edgewater Wireless’ rise is that the stock traded for just $0.035 on March 5th, 5 short trading days ago.
The stock traded some 6.6 million shares and rallied 283.33% that day to close at $0.115 per share.
Now, more than 29 million shares have traded hands in the past 5 days. Edgewater closed at $0.12 per share Wednesday.
Edgewater Wireless – 3 Month Chart
Things began heating up for Edgewater Wireless Systems after it announced responding to demand from a Fortune 500 Company for its patented technology.
The Ottawa-based company reported in its March 5th press release that,
“Using a patented approach to mitigate Adjacent Channel Interference (ACI) and Co-Channel Interference (CCI), WiFi3 powered solutions deliver the highest channel density on the market today while offering advanced carrier-class capabilities including integrated, real-time spectral monitoring. Known as Spectral Surveillance Architecture (SSA), Edgewater’s WiFi3 feature-set dramatically reduces operating expenses (OPEX) for carriers and large enterprises alike.”
Click here to read the entire press release.
Edgewater Wireless Systems’ press release this morning sent its market ablaze after the company announced announced the formation of a strategic partnership with G2 Industries, a diversified finance and integration company headquartered in Miami, Florida (USA). Below is a short excerpt.
“The partnership will enable G2 Industries to offer WiFi3 powered solutions for high-density, high-performance wireless applications for telecommunications companies and public authorities. G2 Industries, through a subsidiary, also plans to directly offer wireless internet services as a licensed Wireless Internet Service Provider (WISP) in select markets.”
The company used a simply analogy to explain its core technology in the March 11th press release, stating,
“Like a single lane road, traditional Wi-Fi solutions rely on single channel architecture, making them susceptible to congestion particularly in high-density environments. Using standards compliant Wi-Fi, Edgewater’s patented WiFi3 technology enables multiple, concurrent channels per radio and, like a multi-lane superhighway, WiFi3 dramatically improves end user quality of service in high-density Wi-Fi applications.”
Click here to read the entire press release.
Andrew Skafel, President and CEO of Edgewater Wireless, commented that,
“We’re excited to partner with G2 Industries. Their strong relationships with large enterprises and governments is an asset as we expand distribution of WiFi3 powered solutions.”
Click here to watch a video that explains WiFi3, Edgewater Wireless’ technology.
Edgewater Wireless is now in the mix and among the leaders of a new wave of innovative junior tech stocks on the TSX Venture.
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