This IoT Stock Was Up Nearly 50% in 2022; Is It a Buy for 2023?
In any year, but especially one marked by a brutal bear market, a 50% return on a stock is pretty darn good. That's just the kind of performance Digi International (NASDAQ: DGII) delivered in 2022. The tiny "internet of things" (IoT) company rocketed higher, while the overall stock market -- especially technology stocks -- languished.
Digi's run higher was helped, in large part, by a key acquisition at the end of 2021, but pressure on supply chains have boosted demand for Digi's products and services, as well. Could a repeat be in store for 2023?
It's been more than a few years since I took a close look at the company (2017, to be exact). At that time, Digi was primarily a seller of IoT hardware that helped companies with supply chain tracking (like cold storage for food in transit, for example).
Source Fool.com
