Hand with smartwatch and cycling concept nearby.

Shares of Wearable Devices (NASDAQ:WLDS) nearly tripled in value following its announcement that preorders of its Mudra Band for AppleWatch are now available.

WLDS stock price skyrocketed to US$1.74 on Thursday following the news, As of market close on Friday, WLDS stock dipped back down to $1.17, however the stock is stil up 160 per cent over a five day trading period.

In a press release on Thursday, the company said its preorders are now available online and is now preparing for the first manufacturing batch.

The band, which was initially designed for the touchless Apple Watch using neural signals, has now expanded its featurse eto include Air-Touch.

Air-Touch eanbles users to operate Apple products across all of Apple’s product lines by using intuitive subtle finger movements and hand gestures without having to touch the device.

“We believe that the Mudra Band is setting the input standard for connected devices, extended reality, and gaming by enabling immersive and intuitive user interactions that transform the ways that people interact with their electronic devices,” Asher Dahan, CEO of Wearable Devices, said in a statement.

Dahan said WLDS has already received thousands of preorders and anticipates beginning shipments of the products in the second half of 2023.

The Mudra Band is compatible with a wide range of Apple Watch models.

The latest update to the Band allows users to move between connected devices with a seamless transition between iPhone, iPad, Mac computer, and Apple TV devices. Users can also transition between smart glasses, and various mobile gaming devices.

Based out of Israel, Wearable Devices Ltd. is a company developing AI-based neural input interface technology for the B2C and B2B markets.

The company is also marketing the Mudra Inspire which uses the same technology as the Mudra Band.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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