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This IoT Play Is Getting Hot Once Again

TheMotleyFool

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Sierra Wireless (NASDAQ: SWIR) was a hot Internet of Things (IoT) play a few years ago, delivering impressive double-digit revenue growth and setting the stock market on fire thanks to its laser-like focus on a nascent but fast-growing market.

As a pure-play IoT company, Sierra looked all set to switch into a higher gear in 2017 as it struck partnerships with notable companies such as Volkswagen. The chipmaker turned in a mixed performance in 2018 before it lost its way last year -- reporting a double-digit revenue drop in 2019 as it tried to cut costs and transform the business model.