Major Investors Buy - Should Investors Follow?
Improvements in profitability and the prospect of growth could trigger the turnaround!
Reading Time: 1 minute
At Sonos Inc. (SONO), stock purchases worth $10.8 million were reported by major investor Coliseum Capital Management LLC between June 12 and June 24. I find this interesting because the stock of the sound system specialist has lost around three-quarters of its market value since reaching an all-time high in 2021. Increasing competition from low-cost providers, issues with app launches, and a weakened consumer sentiment were some of the stress factors. However, the report released in May for the second quarter raised hopes that Sonos could return...
Read this article now with a free account.
Your benefits:
- Every month, you can read 5 articles from the premium section for free.
- Monthly 2 trial issues of the Trader newspaper for free.
- Create a personal watchlist with an overview of news about your stock.
