Stock of the Day

August 24, 2020

Sonos (SONO)

$15.11
+$0.84 (+5.9%)
Market Cap: $1.70B

About Sonos

Sonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is headquartered in Santa Barbara, California.

Today's Trend

Sonos, Inc. (NASDAQ: SONO) shares are getting support from a mix of product demand and cost-cutting headlines, but the tone is partly offset by concerns about leadership turnover.

Overall, SONO appears to be moving higher as investors balance signs of product demand and an upcoming earnings update against worries that the company’s restructuring is thinning its leadership bench.

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