Socket Mobile skyrockets; reported quarterly results

Socket Mobile

23/07/2021 14:27

** Shares in Socket Mobile  SCKT.O  up 140% at $13.93 in
premarket trading with over 12 mln shares already changing
hands; co reported Q2 results late Thursday
    ** Socket shares closed at $5.80 on Thursday just before it 
 reported EPS of $0.27 vs year-ago loss of $0.13 while revenue
more than doubled to $5.95 mln vs $2.7 mln in year-ago quarter
 urn:newsml:reuters.com:*:nPn3yy5mHa
    ** The company, which provides "data capture and delivery
solutions for enhanced workplace productivity", said the
increase in revenue was primarily driven by deployments in the
retail industry
    ** While the stock has traded below $10 since late March, it
spiked up to $35 in mid Feb when co launched a barcode scanner
for the iPhone 12 series
    ** SCKT has ~7 mln shares outstanding and ~5.7 mln shares of
free float. Stock's 10-DMA volume is ~600k - Refinitiv data

 (Reporting By Sinéad Carew and Lance Tupper)
 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net
lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430
))