Wialan Technologies, Inc. (OTC: WLAN) is engaged in installing and operating industrial grade wireless access points for indoor and outdoor use with a track record of successful deployment in airports, municipalities, and apartment buildings. As one of the few 5G stocks in the OTC, WLAN has been one of the best runners lately – surging 170% after the company shared its first PR in 8 years. With plans to launch new communication processes and products later this year, WLAN stock could be one of the 5G stocks worth investing in.
WLAN Stock News
After 8 years without sharing updates, WLAN has been receiving investors’ attention after releasing PR to announce new additions to its BOD. For its CFO position, WLAN appointed Alan Bailey. Until 2009, Bailey was senior vice president and treasurer at Paramount Pictures for more than 30 years. During his tenure with Paramount, Bailey was responsible for global cash management, internal audit and compliance, film financing and cash planning. In addition, Bailey worked in senior roles with several public companies in accounting, finance, as well as mergers and acquisitions. Based on Bailey’s extensive experience, many investors are bullish WLAN could be preparing to announce major news in the near future.
At the same time, WLAN appointed Fernando Scazzi as Chief Technical Officer. Over more than 20 years, Scazzi worked in various roles in the production of aircraft parts with Rockwell Collins. Meanwhile, Scazzi worked previously with WLAN as a consultant assisting in the design and manufacture of the company’s access points and products thanks to his knowledge in materials and production processes. With this in mind, WLAN could utilize Scazzi’s knowledge in developing new products.
On that note, WLAN’s PR included encouraging news regarding the company’s future plans. With the company looking for potential candidates for its CEO position, WLAN shared that candidates for the position must have senior level experience in cellular connectivity and operations. This experience is pivotal for the company as the new CEO will work with the company’s directors to develop and launch a new revolutionary product. Moreover, WLAN intends to develop other new communications processes and products to launch into the market later this year. In light of this, WLAN stock could be one of the best 5G stocks to hold onto this year in anticipation of the roll out of the company’s new products.
One of these products is a patented streetlight product that will host micro cellular devices to offload traffic from main cell towers – emulating a local cell tower in a light pole. With this in mind, WLAN’s president Victor Tapia was a co-inventor of a patent licensed to T-Mobile regarding a project similar to the project mentioned in the PR. This patent is regarding the retrofitting of streetlights to enable cellular and wireless communications to be added to the streetlight to provide additional bandwidth to that provided by cell towers. Considering the similarity between both projects, investors are bullish WLAN could be one of the promising 5G stocks to watch this year if it launches such a product to the market.
In other news, WLAN could be one of the 5G stocks to watch over the coming weeks as President Biden is set to sign the CHIPS and Science Act into law after passing the Senate and the House. This legislation will provide $52 billion in subsidies and grants for the domestic chip manufacturing industry and more than $100 billion for technology and sciences investments. The legislation also includes $1.5 billion for a fund that would encourage companies to build 5G networks. Given that T-Mobile is expected to receive funding from this bill thanks to Tapia’s patent, WLAN could be also poised to receive funding to further develop its product.
While the company is currently Pink Limited, WLAN is expected to file an attorney letter with OTC Markets this week to regain Pink Current status. With this in mind, the company expects the yield sign to be removed within the coming 10-14 days. In light of this, WLAN stock could be one of the 5G stocks to buy now as it could explode upon becoming Pink Current.
WLAN Stock Financials
According to its Q2 financials, WLAN’s assets declined from $20.7 thousand in Q1 to $18.4 thousand due to cash decreasing to $11.3 thousand from $13.6 thousand. Meanwhile, the company reported $12.1 thousand in revenues for total revenues of $31.6 thousand in the first half of 2022. With this in mind, WLAN reported a net loss of $10.2 thousand in Q2. The Q2 report also highlighted that the company has no debt or convertible notes – reducing dilution risk faced by shareholders.
@Jester_Trading is watching WLAN stock to hold its current price level for a break through $.055.
@Arcstockstrader expects WLAN to share PR upon becoming Pink Current.
Currently trading at $.0051, WLAN has supports at .0045, .0028, and .0016. The stock also shows resistances near .0054 and .007. After sharing its first update in 8 years, WLAN climbed 170% with investors confident the stock could continue surging thanks to the company’s plans. With this in mind, long-term investors could hold WLAN this year in anticipation of the company’s new products to rollout. Meanwhile, WLAN could be an opportunity to realize gains in the short-term as the company is expected to become Pink Current within 10-14 days. As
WLAN recently broke through its VWAP resistance, investors could watch this price level to hold before adding to their positions since the stock could drop near $.03 if it retests its support. In that case, this could be an ideal entry point for bullish investors as the stock could soar given its upcoming catalysts. However, if the stock maintains its current price level, investors could take a starter position and average up as the stock moves.
With investors bullish on WLAN’s upcoming plans, accumulation is trending upwards and the MACD is bullish. The RSI cooled off slightly from 64 to 58 which could allow the stock to witness another run if enough volume is there. WLAN has an OS of 2.6 billion and a float of 603.5 million.
WLAN Stock Forecast
With the company sharing its first update in 8 years, WLAN is emerging as one of the best 5G stocks to watch this year. As the company is preparing to launch new products later this year, WLAN could be well-positioned for significant growth in the future. Meanwhile, investors are extremely bullish on WLAN’s project which is similar to Tapia’s invented T-Mobile patent. With this in mind, WLAN could be well-positioned to receive funding from the government based on the CHIPS and Science Act when it launches this product. Meanwhile, WLAN is preparing to file an attorney letter this week to become Pink Current. Since the company expects to gain Pink Current status within 10-14 days, WLAN could be poised to run upon its tier change. In light of these catalysts, WLAN is one of the 5G stocks to watch closely this year.
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