Buy This Tech Stock Trading Under $20 a Share Before It Explodes Higher

Sierra Wireless (NASDAQ: SWIR) was once a hot play on the booming Internet of Things (IoT) market before it lost its way a couple of years ago. The company has been trying to switch into a higher gear for quite some time now, but the novel coronavirus pandemic, the loss of business to competitors, and a components shortage have combined to weigh Sierra down.

However, it looks like the chipmaker may be finally turning a corner. Sierra recently delivered better-than-expected results for the first quarter and threw light on a few trends that indicate it is all set for a turnaround. Let's take a closer look at the reasons why Sierra Wireless looks primed for a comeback.

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Source Fool.com