Why Resideo Technologies Stock Soared Again in December
Shares in home-comfort and security products company Resideo Technologies (NYSE: REZI) rose 15% in December, according to data provided by S&P Global Market Intelligence. Overall, the Honeywell International spinoff (publicly listed in late 2018) recovered well from a difficult 2019, when guidance cuts, a CEO resignation, and disappointing results led to a major slump in the share price. Moving into 2020, the COVID-19 pandemic caused management to withdraw full-year guidance in April.
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However, the appointment of a new senior management team in May 2020, including CEO Jay Geldmacher and CFO Tony Trunzo, appeared to steady the ship. Since then, it's become clear that Resideo has been helped rather than hurt by the pandemic economy.
Source Fool.com
