Why the Weebit Nano (ASX:WBT) share price surged 12% today

Weebit Nano Ltd (ASX: WBT) shares were on the rise today. This came after the company announced it will file two new patents with its strategic partner, Leti. By the market’s close, the Weebit Nano share price was up 11.54% to $2.03. In comparison, the S&P ASX All Technology Index (ASX: XTX) was down 1.3% to 2,843 points.

Quick take on Weebit Nano

Weebit Nano develops next generation computer memory technology. The company addresses the growing need for data storage and embedded non-volatile memory (NVM) technology with its new, resistive random-access-memory (ReRAM) technology.

According to the company, “Weebit Nano’s technology enables a quantum leap, allowing semiconductor memory elements to be significantly cheaper,…