Why Sonos Stock Spiked to All-Time Highs Today
Shares of home-audio company Sonos (NASDAQ: SONO) spiked on Thursday, briefly surpassing previous all-time highs set shortly after its initial public offering (IPO) in 2018. Today, investors were cheering the company's full-year financial results that showed strong growth, particularly in its direct-to-consumer (DTC) business. The fiscal year for Sonos ended on Oct. 3, and today the company released results for the fiscal fourth quarter, closing out 2020.