Sonim Technologies (NASDAQ:SONM) stock is on the rise Friday after the company announced a new accessory for smartphones.
Source: Pavel Kapysh/Shutterstock.com
The news today is that the company has released Klein waterproof headsets and RSMs. these are compatible with its Sonim SecureAudio Connector handsets, which include the XP3, XP5s, and XP8.
Truthfully, this isn’t what has SONM stock taking off today. Instead, it’s that meme and retail stock traders have discovered the company. SONM is a penny stock trading for less than a dollar, which means it’s an easy target for retail traders. In fact, there’s plenty of chatter about the company from these traders on Twitter (NYSE:TWTR).
To go along with that extra attention is the heavy trading of SONM stock. As of this writing, more than 61 million shares of the stock have changed hands. That’s an impressive surge over its daily average trading volume of about 6.2 million shares.
Now let’s take a look at what potential traders need to know about Sonim Technologies before investing.
- To start with, the company’s focus is on offering rugged devices and accessories in the mobile phone market.
- That includes its own smartphones, as well as accessories designed for specific tasks that are often mission-critical.
- To go along with this, it has its own collection of apps that offer data and workflow services to customers.
- It’s based out of Austin, Texas, and was founded in 1999.
- The company’s current market capitalization is $54.409 million.
SONM stock was up 9.2% as of noon Friday.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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