Shares of wireless network provider Energous Corp (NASDAQ:WATT) surged by 3.56% to $0.60 today following the announcement of Mallorie Burak as the company's new Chief Executive Officer (CEO) and board member.
The appointment takes effect immediately.
Burak, who joined Energous Corp as Chief Financial Officer (CFO) in January 2024, will continue to hold this position in addition to her new role as CEO.
Prior to her tenure at Energous Corp, Burak served as President and CFO of Knightscope.
Despite today's positive stock movement, Energous Corp's shares have experienced a significant decline of approximately 66.67% year-to-date (YTD).
The market's reaction to Burak's appointment suggests optimism about her leadership and the company's future prospects.
Investors will be closely watching to see how her strategic vision and experience will impact Energous Corp's performance going forward.