This morning shares of Wialan Technologies (OTCMKTS: WLAN) are among the top gaining stocks on the US OTC exchange today and among the most heavily traded. The stock has already done over 27 million shares in trading on 280 individual trades and is up over 20% this morning. The company has a market cap of $14.8 million USD. Take a look at the chart.
Last week the company announced in a press release that it “acquired the exclusive license to build and sell a patented street light
fixture that can host micro wireless devices, including cellular small cells for cellular operators, tosignificantly improve internet reception and connectivity from the reach of each street light pole. This product has been deployed already in a Miami Dade County city and in several sites in Mexico and is operating efficiently. The light fixture has the technology to host a variety of LTE devices and is also ready for the next generation of newer technologies, including 5G devices, as well as hosting Wi Fi devices and video surveillance equipment. The light fixture is manufactured in South Florida.”
This news attracted people into buying the stock last week and that buying pressure has carried over into this week and today. It’s getting the notice of many traders who post on Twitter.
Holy crap! So the $WLAN new guy, Tony McDowell, is cited here working with $CCI, a $60 bil Corp, in the same city and project listed in the PR. One can speculate that $WLAN will be providing the patented equipment for the 12 year agreement. Nice DD by job @armywife_momof3 🔥🔥🔥 https://t.co/5KebnaKlBp— ScalpIt (@nxtplse) October 30, 2022
$WLAN nice volume this morning breaking through .006 and creeping towards that big resistance point at .007— Eager_Beaver (@linzy_long_hold) November 1, 2022
Big wall at .0069 trying to scare retail out. We break here we have some resistance and .008 then .01🤩 play it smart. Lock some in on the way. pay yourself 💜@Jcazz17 https://t.co/uiQ5c9eoiT pic.twitter.com/VNOG61loRU
I have no position in this stock. The October stock market rally has brought new life to the US OTC small cap market and WLAN is one of the big stories in that market today.