Sonim Technologies (SONM) Stock Rockets 18% on AT&T Deal

  • Sonim Technologies (SONM) stock is rising on a new rugged phone launch.
  • The deal makes its XP5plus available on AT&T's (T) network.
  • The XP5plus is a smartphone designed for use in extreme conditions.
SONM Stock - Sonim Technologies (SONM) Stock Rockets 18% on AT&T Deal

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Sonim Technologies (NASDAQ:SONM) stock is taking off on Friday following news of a deal with AT&T (NYSE:T)!

This deal has Sonim Technologies’ XP5plus launching on the AT&T network. This is a rugged device from the company designed for use by first responders and other customers in environments less than ideal for the typical smartphone.

The XP5plus is the successor to the XP5s and brings with it new features. Among these is a longer battery life, as well as a version that includes physical knobs for channel selection and volume control.

Peter Liu, CEO of Sonim Technologies, said the following in the news release boosting SONM stock today:

We are pleased to continue our relationship with AT&T and provide businesses with the latest rugged communications that will unlock mission-critical team communication and outlast any given day in the field.

News of the deal with AT&T has shares of SONM stock experiencing heavy trading on Friday! As of this writing, more than 9 million shares of the stock changing hands. To put that in perspective, the company’s daily average trading volume is closer to 1.6 million shares.

SONM stock is up 18% as of Friday morning but is still down 32% since the start of the year.

Investors on the lookout for more recent stock market news are going to want to stick around!

We’ve got all the hottest stock coverage that traders need to know about for Friday! Among that is what has Innovative Industrial Properties (NYSE:IIPR) stock falling, why hydrogen stocks are heading lower, as well as what’s behind the rally of United Maritime Corporation (NASDAQ:USEA) shares. You can find out all about these matters at the links below!

More Stock Market News for Friday

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 InvestorPlace.com Publishing Guidelines.


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