Why Inseego Stock Dropped Last Month
Shares of Inseego (NASDAQ: INSG) fell 20.5% in February, according to data provided by S&P Global Market Intelligence, on seemingly no company-specific news. Investors may have been taking some of the gains they made with Inseego's stock before the company reported its fourth-quarter results at the beginning of March.
Inseego is a provider of 4G and 5G networking equipment. In December, the company's share price popped 56% as the company made a series of deals with telecom operators. That jump, combined with earlier gains in the year, pushed the company's stock up 184% between February 2020 and February 2021. But investors started selling Inseego shares in February as the company's fourth-quarter results approached.
Image source: Getty Images.
Source Fool.com
