This Forgotten IoT Stock Is Aiming for a Turnaround
Sierra Wireless (NASDAQ: SWIR) was once a poster child for the opportunities presented by the Internet of Things (IoT). Being a pure-play IoT company, Sierra was supposed to ride the growth of machine-to-machine (M2M) connectivity, thanks to its expertise in modules that enabled devices to communicate with each other.
But things didn't turn out as expected. Sierra fell prey to the commoditization of the IoT chip market and lost business to rivals. Not surprisingly, Sierra Wireless is no longer the fast-growing stock that it used to be. The stock is languishing close to its 52-week lows and the company's latest results weren't very attractive. However, the company has switched its strategy to take another swing at the IoT opportunity.
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Source Fool.com
