Sierra Wireless (NASDAQ: SWIR) has quickly set aside the disappointment of its tepid third-quarter earnings report last November. Shares of the Internet of Things (IoT) and 5G wireless specialist have soared big time in January 2021 — something that looked unlikely just a month ago as it was handicapped by several headwinds.
So, what has caused this terrific and surprising rally in Sierra stock? More importantly, can it sustain this momentum for the remainder of the year? Let’s find out.