Energous (WATT) Stock Hits New High

NEW YORK (TheStreet) -- Energous  (WATT) rose more than 35% to a new high of $16 as of 12:40 p.m. on Monday after the tech company's strong debut after its IPO late last week.

The company priced its initial public offering at $6 a share and sold 4 million shares. Energous also included a 45-day option for underwriters to buy up to an additional 600,000 shares. If this happens, then gross proceeds from the IPO would total $27.6 million.

Energous is developing WattUp, a wire-free charging technology that would allow users to freely walk around with and use their mobile devices rather than have to leave them on a pad or other station to charge. The devices would charge through Wi-Fi, which could potentially revolutionize the business.

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