Why Sonos Stock Suddenly Spiked to All-Time Highs This Afternoon

Shares of home-audio company Sonos (NASDAQ: SONO) were trading higher all day. But the stock had a pronounced spike around 3 p.m. EST that allowed it to hit the all-time high of $23.68 per share, according to Yahoo! Finance. With the spike, it traded as much as 13% higher. But Sonos stock gave some back, finishing 8% higher for the day. 

Legrand is a company with products that include speakers, cameras, and remote light switches. Today, Sonos announced that Legrand will be licensing Sonos's patents for manufacturing its NUVO multi-room wireless audio products going forward. 

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Source Fool.com