SONM stock jumped by 35% since the market opened this morning, and it keeps rising, reaching a new record of about $0.73 for the current month. Such an increase was caused by an announcement that Sonim Technologies will be collaborating with Mem-Star Rugged, an IT company to deliver XP8 smartphones to the UK through the CCS purchasing platform.
The XP8 and XP5s are tough and durable all-in-one Android devices that can reduce the total cost of ownership (TCO) since to their vast functionality, proven durability, and comprehensive 3-year warranty. While other companies carrying a lot about featuring their gadgets, Sonim (SONM) focuses on longevity and dependability rather than being constrained by size.
After reaching its peak, everything depends on the product’s sales and revenue, which will either climb substantially or cause the stock to fall. Shareholders are looking for more information in the hopes of a successful product sale, whereas investors are undecided about whether they should take a risk or wait for further news.