Why PowerFleet Shares Rocketed 31% Today
Shares of small-cap Internet of Things tech company PowerFleet (NASDAQ: AIOT) rallied big on Monday, up as much as 38.8% in the day's trading before ending the day with a 31.1% gain.
As its stock ticker indicates, PowerFleet sells a combined hardware and software platform that melds artificial intelligence (AI) with the Internet of Things. The platform allows large businesses with physical assets to monitor and derive intelligence from machines and heavy equipment across their enterprise.
PowerFleet reported its fiscal third-quarter earnings today and gave forward guidance, which clearly pleased investors.
Source Fool.com
