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Why Sonos Stock Spiked on Monday

TheMotleyFool

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Sonos (NASDAQ: SONO) ended last week on a high note, after a judge ruled in its favor over a patent dispute with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google. This win could potentially lead to more licensing revenue, so it isn't surprising to see Wall Streeters jumping on the bandwagon. On Monday, Sonos received a big upgrade from an analyst with Jefferies Financial Group.

The stock was up 7.6% at 10:07 a.m. EDT. This brings Sonos' year-to-date performance to 80%, significantly outperforming the Nasdaq Composite index.