Sonos Investors: A 2020 Survival Guide
Sonos (NASDAQ: SONO) has had a long year, and it's only the first week of February. The wireless audio pioneer has had a couple of hiccups so far in 2020, but it seems as if investors are willing to look the other way after Sonos came through by posting another blowout quarter after Wednesday's market close.
The first stumbling block was when Sonos announced that it would stop supporting some of its older products, and that their overall functionality could eventually be disrupted. Sonos offered a 30% discount on new orders for customers upgrading their legacy audio equipment, but the backlash was severe. Sonos eventually caved, agreeing to keep the older gear working as it does today instead of going the way of the forced obsolescence. A smaller mishap recently took place in which hundreds of customers had their email addresses exposed to follow customers.
However, despite the two tactical blunders, shares of Sonos opened sharply higher on Thursday after the company posted better-than-expected financial results for its fiscal first quarter of 2020. Sometimes the best way to drown out unsavory external noises is to pump up the volume.
Source Fool.com
