SONM - Sonim skyrockets after receiving additional $6.4M in initial stocking orders

Sonim Technologies (NASDAQ:SONM) rallies 57.3% higher premarket after it announced multiple additional purchase orders worth 6.4 M for stocking inventory of Sonim's upcoming XP5plus feature phone with enhanced PTT capabilities and Sonim's next-generation XP10 5G rugged smartphone. The orders are from a top U.S. carrier customer and two Canadian carriers, adding to earlier announced initial stocking orders for $9.5M on these devices from a top U.S. carrier. The XP5plus is expected to be available later this summer; shipments of the new XP10 rugged 5G smartphone device are expected to begin in the fall of 2022.

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Sonim skyrockets after receiving additional $6.4M in initial stocking orders