Several value-creating events contribute.īefore completing its capital placement, SOBR announced signing a software as a service (SaaS) agreement with a prominent Native American tribe, a Self-Governing Nation in the United States serving thousands of members. And those tangibles are in the public domain, giving investors plenty of supporting ammo to appraise for higher SOBR share prices. That sounds like a tall order, but it’s not from a historical perspective considering the company is more potent now than then. Product Portfolio Adds Accretive Firepower Thus, with the stock churning between the $2.03-$2.12 level and considering that SOBR appears better positioned than at any time in history to accelerate an aggressive income-producing agenda, the next spot of news could be the fuel needed to support a breakout and send SOBR stock back to 52-week highs of $8.91, roughly 328% higher than current levels. In addition to extending its financial runway, the strengthened balance sheet paves the way for SOBR to be even more opportunistic in executing its sales, integration, and licensing strategy. More than timely before an expected chill in the credit markets, the fresh capital allows SOBR to expedite its revenue-generating mission to maximize value inherent to its innovative and disruptive alcohol-screening technology ahead of its original 2024 plan.
Foremost, SOBR was raising capital timely, completing a $3.5 million convertible senior notes offering in March. And the better news for SOBR and its investors, the ride higher may be just getting started. Of course, SOBR’s rise wasn’t a coincidence it resulted from this smallcap company doing remarkable things related to alcohol screening and monitoring technology. In fact, it was one of the handfuls of stocks accruing any bullish momentum in any sector as investors flew from risk assets to safe haven holdings.
Why? Because it closed green for the week, adding about 5% despite decidedly bearish market conditions. (NASDAQ: SOBR) stock stood out last week.
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