Why Ubiquiti Shares Soared Today
Shares of Ubiquiti (NYSE: UI) were soaring in Friday trading, up 17% as of 1:33 p.m. ET.
The enigmatic Wi-Fi equipment maker reported its fourth-quarter and fiscal-year results this morning, which was apparently better than some investors had feared.
There aren't many investors following the stock, as it is only covered by one Wall Street analyst, and CEO Robert Pera owns about 93% of shares outstanding. But with the stock having been more than cut in half below its 52-week high, some may want to give this under-the-radar company a look on a potential rebound.
Source Fool.com
