As I’d expected, Inseego Corp. (INSG) saw some big moves over the past month, finally shedding its penny-stock status and climbing above the all-important $5 level to a peak of approximately $5.75 in the last week of May.
The good news doesn’t end there. In our view, if Inseego can break $6 in the near term, we could see it summit even greater price levels over the month of June.
After all, Inseego, which designs and develops mobile, Internet of Things (IoT), and cloud solutions, also specializes in helping other firms to save money on employee and telecom costs. That’s just about the best way a company weather a recession and perhaps even profit from it in the long run.
As I explained last month, however, investors with a long-term interest in Inseego shares should keep an eye trained on the group’s very shaky balance sheet. There’s no doubt about it: the company needs to cut costs and improve its assets/liabilities mix – and soon. But if it is able to do so, we would expect great things from Inseego.
