Sonim Technologies, Inc. (SONM) Stock Plunging in Premarket, Here’s the Cause


Sonim Technologies, Inc. (SONM), a provider of ruggedized mobile phones and accessories, has plummeted 18.69% in the premarket trading session. Consequently, the stock was trading at $0.99 when last checked. The decline followed a surge of 103.333% during Tuesday’s regular trading. The stock closed the day at $1.22. The massive rise could be attributed to a development related to Sonim XP8.

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Integration of XP8 with Walkie Talkie

On Tuesday, SONM announced that its ultra-rugged smartphone, XP8, has been integrated with the Walkie Talkie in the Microsoft teams’ application. The integration has come alongside the dedicated push-to-talk button. The button is meant to deliver a secure solution for all of the worker-related communications.

SONM XP3plus phones Availability on Telus Stores

On the 10th of March, SONM reported that XP3plus flip phones had become available across all of the Telus stores in Canada. Alongside that, the phones could be bought online at the Telus website. XP3plus flip is the successor to the XP3 flip phone. It provides the customers with improved capabilities as well as enhanced performance to the ones who work in hard conditions, and hence, require a simple and reliable communication product.

Unlocked Version of XP3plus Available

On the 9th of March, SONM announced the availability of unlocked versions of the XP3plus flip phone across the globe. The company said that two versions of unlocked XP3plus would be available to the customers. One would be available to the customers based in the North American region, while the other would be available for the rest of the world. XP3plus has been made to provide the customers with a reliable and simple product to meet their communication needs.

What’s Ahead for SONM?

Looking ahead, analysts are of the view that even though SONM stock holds several positive signals, they are not enough for it to be considered as a buy candidate. Hence, at the current level, the sock should be considered merely for hold while waiting for future developments.


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