Inseego Corp. (INSG) is one of the top 5G stocks to keep an eye on at the moment.
Over the last few weeks, INSG ran from a low of $10.53 to a high of $15.25. Then, on earnings, the stock slumped to $11.27.
INSG reported second quarter net revenue of $80.7 million — year-over-year growth of 44%, GAAP operating loss of $5.3 million, GAAP net loss of $74.8 million, including $67.2 million of one-time non-cash charges relating to refinancing activities during the quarter.
“We reported an exceptionally strong quarter with outstanding operational execution in every part of the company and over $80 million in revenue. We’re on track to launch our new 5G portfolio with multiple operators in the coming months and are seeing phenomenal performance in pre-launch field trials on live 5G networks,” said Inseego Chairman and CEO Dan Mondor. “We rapidly increased our supply chain capacity in response to the surge in demand and continue to see strong demand for our 4G mobile products driven by work-from-home and distance learning and our 5G products as the technology is deployed in more networks worldwide.”
The company also just announced that Craig Foster was just appointed Executive Vice President and CFO, effective August 17, 2020.
Better, the 5G boom is booming, and could create a $12 .3 trillion opportunity.
There’s so much potential, analysts at Cowen have said a 5G “revolution is coming.”
“5G will usher in this revolution and have a ‘game-changing’ impact on society. Certainly, there are already several technologies including artificial intelligence, robotics, the Internet of Things, quantum computing, etc. that have already impacted our lives a great deal. 5G will serve as the ‘glue’ for these foundational technologies to come together–and that convergence will form ‘the fourth industrial revolution,’” they said, as quoted by Barron’s.
As of this writing, Ian Cooper does not have a position in shares of INSG.