Benzinga | Apr 12, 2021 07:43AM EDT

WISeKey Stock Is Trading Higher On Supply Chain Investment Drive

* Fabless cybersecurity and IoT company WISeKey International Holding Ltd (NASDAQ: WKEY) announced a significant investment in its supply chain transformation to counter the lockdown-induced demand explosion of IoT devices and consumer products amid the ongoing semiconductor crisis.

* The crisis is expected to loom till 2022.

* The company's secure chips are embedded in routers, modems, energy-smart meters, drones, and medical devices to protect data, communication, and firmware against cyberattacks.

* Price action: WKEY shares traded higher by 3.32% at $10.90 in the premarket session on the last check Monday.