Sonos stock gains after Citron predicts ‘this is the time’ for Apple acquisition – MarketWatch

Sonos stock gains after Citron predicts ‘this is the time’ for Apple acquisition – MarketWatch

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Shares of Sonos Inc.
SONO,
+18.04%

are up practically 9% in Monday morning procuring and selling after Citron Compare chimed in with a bullish appreciate of the dapper-speaker company. The analysts argued that the company is “location to file a blowout quarter” given hand over-at-dwelling trends, the grisly repute of no longer too long ago launched merchandise, and the stickiness of the Sonos ecosystem, with a excessive fragment of purchases coming from households that already indulge in no longer much less than one Sonos map. The company’s skill to power contemporary map purchases amongst present possibilities presents Sonos an “uncanny” resemblance to Apple Inc.
AAPL,
+1.99%
,
in line with the Citron analysts. Citron stated in a tweet that it predicts “that is the time” for a protracted-awaited acquisition by Apple. Apple shares are up 1.6% in Monday procuring and selling before the company’s annual WWDC developer keynote, which is determined to begin at 1 p.m. ET. Apple shares indulge in gained 55% over the past three months as Sonos shares indulge in rallied 66%. The S&P 500
SPX,
+0.48%

is up 34% in that span.

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