- The stock price of Sonim Technologies Inc (NASDAQ: SONM) increased by over 70% pre-market today. This is why it happened.
The stock price of Sonim Technologies Inc (NASDAQ: SONM) increased by over 70% pre-market today. There are no company-specific reports driving up the stock price so it appears there are external factors at play.
The stock price surge appears to be driven by day traders who are active on social media platforms like Discord, Twitter, StockTwits, etc. For example, the Twitter user @Ultra_Calls – known as “The Stock Sniper” is closely followed and has been promoting the stock:
❤️ let’s go baby. Holding full still. $4.75 breakout next https://t.co/1UEPEcndgA
— The Stock Sniper (@Ultra_Calls) October 25, 2021
Here is another tweet promoting the stock that has been gaining some attention:
Will we see $5 or $10 Monday? $SONM
$20 Price Target 💣 pic.twitter.com/ORzqOzTkPU
— DippityDip (@Dip_Trader) October 22, 2021
It’s also worth mentioning that last month Sonim Technologies executed a one-for-ten reverse split of its issued and outstanding common stock.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.