Millions of People Will Be Blindsided in 2023. Will You Be One of Them?

On December 13, Louis Navellier, Eric Fry & Luke Lango will reveal the major events that could rock the markets in 2023. Will your money be safe?

Tue, December 13 at 4:00PM ET

SCKT Stock: Why Socket Mobile Shares Are Rocketing Higher Today

Socket Mobile (NASDAQ:SCKT) stock is rocketing higher on Friday thanks to the company’s earnings report for the second quarter of 2021.

Person using a cash register representing SCKT stock.

Source: Shutterstock

The good news for SCKT stock starts today with its diluted earnings per share of 27 cents. That’s a positive change compared to the losses per share of 13 cents from the same time last year. It also easily comes in above Wall Street’s estimate of 3 cents for the quarter.

To go along with that is the company’s revenue of $5.95 million for Q2 2021. This is up 119% from the $2.72 million reported in the same period of the year prior. That’s a boon to SCKT stock with analysts only estimating revenue of $4.07 million for Q2.

Kevin Mills, president and CEO of Socket Mobile, said this about the news sending SCKT stock higher.

“The market opportunity and positive momentum we are seeing is encouraging as it validates our application driven business model. In line with our operating plan, we are investing in both technology and talent, while remaining disciplined on costs, so we can further strengthen our application developer tools to better serve the developer community.”

The positive earnings report today also has SCKT stock experiencing heavy trading. As a result, more than 24 million shares of the stock have changed hands this morning. That’s a massive increase compared to its daily average trading volume of about 175,000 shares.

SCKT stock was up 97.1% as of Friday morning and is up 363.3% since the start of the year.

Investors looking for more stock market news will want to stick around.

InvestorPlace offers daily coverage with our deep dives into the stock market. Some of the latest news worth checking out includes the biggest pre-market stock movers, what happened with the stock market yesterday, and more. You can find all of that info at the links below!

More Recent Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC