Why Arlo Stock Skyrocketed Today
Shares of Arlo (NYSE: ARLO) skyrocketed by as much as 47% Tuesday after investors noticed an exclusive product listing on Apple's online storefront. Trading in the stock was temporarily halted earlier in the day due to volatility, but has since resumed. As of 1:06 p.m. EST, the share price was still up by about 30%.
Landing an exclusive distribution deal with Apple could prove a significant windfall for Arlo, a small-cap company that specializes in smart home technology and gadgets. The Apple Store listing that got the market's attention is for a pair of Arlo Ultra 4K wireless security cameras, which closely resemble the Arlo Ultra 2 camera the company sells on its own website, but which has a slightly different model number.
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Source Fool.com
