Vuzix Corp (NASDAQ: VUZI) has continued its big rally over the past year, and it is 260% year to date. Most importantly, the stock has surged 2100% from its 52-week low.
The AR company was a penny stock a year ago trading below $5 as ongoing losses and unpredictable curbed market enthusiasm for its AR business’s growth. In March 2020, the stock dropped below $1. But by late December, it hit $10 and has continued to surge to the mid-$20s in 2021.
Since the launch of its flagship M100 glasses and subsequent M300, M400, and M4000 devices, growth had been modest. But in 2019, the AR market was on the ropes after Google discontinued Google Glass and Intel stopped AR partnership with the company. However, last year the pandemic boosted Vuzix products’ demand with the shift to remote work in the healthcare and enterprise sectors. Most of the company’s growth was due to M400 glass sales and OEM orders from the defense and medical sectors. This is a speculative stock that is worth watching in the coming months.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.