On a trading day on April 15, Sonos Inc. (SONO) increased 193 % in the past six months to $43.89. Profits continue to increase while new products that target young people are launched.
As of the last check, Sonos Inc. (SONO) stock rose 0.02% to trade at $43.9. SONO closed Thursday’s session up 1.57% at $43.89. There were 1.9 million shares traded, which was lower than the 3.32 million shares average daily volume within the past 50 days. During the past week, SONO shares rose by 3.91%, making them up 362.00% over the last 12 months. In the past three months, the stock has increased by 66.95%, while in the previous six months, it has soared by 192.80%. Furthermore, the SONO stock’s market value is $5.33 billion, and its outstanding shares are 119.74 million.
Sonos is focused primarily on audio systems. Speakers by this manufacturer include portable audio speakers, smart speakers, and home theatres. To attract younger users, Sonos is integrating new solutions into these devices.
An example of this is the new Roam speaker. Despite its small size, it’s extremely powerful with strong bass. Sound is analyzed by special microphones adapted to different conditions, such as a music festival on the lakeshore or forest. The speaker connects to the speakers in the home and voice assistant at the same time while it is on the go. Sonos expects active people to be enthusiastic about the new product, which retails for about $170.
Its success is expected to be similar to that of Sonos Move speaker, which resulted in revenue and profit growth for the SONO stock, noting that the lack of portability is its main downside. The new Roam speaker has this advantage, and it also adds protection from dust, heavy rain, and even short-term immersion.
However, notwithstanding the narrow segment and strong competition, Sonos still has the chance to improve its financial performance. The SONO stock has succeeded in meeting current customer needs so far.