SCKT Stock: Socket Rockets on DuraSled Launch

Socket Mobile, Inc. (NASDAQ: SCKT) is screaming for the top in the market this morning, and for good reason. The company announced the launch of its DuraSled product. Here’s what’s going on:

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Socket Mobile Announces DuraSled

In the press release, Socket Mobile said that the DuraSled has arrived. The DurSled is the first enterprise-grade barcode scanner for the iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max and iPhone 12 Mini. 

As a result of the launch, SCKT said that users of all iPhone 12 series devices now have access to professional-grade scanning solutions. 

In the press release, the company went on to say that the DuraSled is a rugged case that protects the iPhone from drop damage and provides a robust, versatile charging solution that fits in with all workplace environments. Moreover, the company said that the ease of use and resilience of DuraSled make it an ideal option for delivery services, stock counting, ticketing and other application-driven mobile services. 

SCKT went on to explain that its Capture SDK enables easy integration into native, and/or web-based applications that use scanning to enhance the productivity of workers using iPhones. 

Through the product, employers can now support workers who use the iPhone 12 in addition to supporting older iPhones from 6 to 11, all using the same chargers, accessories, and SDK

Management Commentary

In a statement, Vanessa Lindsay, Senior Product Manager at SCKT, had the following to offer:

An ever-increasing number of companies count on iPhone applications to run their businesses. Companies need to support a wide range of devices, especially if they offer their employee the option to use their own. The DuraSled turns your iPhone into a one-handed solution that combines the versatility of the iPhone and the power of an enterprise-grade scanner. Socket Mobile Capture SDK enables the application to fully control the scanner and maximize the efficiency of the overall solution.

Why Investors Are So Excited

Ultimately, this is exciting news. After all, a new line of products means that Socket Mobile has yet another opportunity to expand its revenue stream. 

These days, companies are increasingly taking advantage of the technology associated with smartphones, mobile applications, and mobile accessories. With the launch of DuraSled, SCKT is helping to make this possible for iPhone owners. 

All in all, what we’re talking about here is an opportunity to greatly expand revenue by offering a product that consumers are likely to take advantage of in the enterprise setting. 

Risks to Consider Before Buying SKCT Stock

If you’re considering buying Socket Mobile stock for your portfolio, you’re going to have to be willing to accept risk. After all, there’s no such thing as an investment that doesn’t come with the risk of loss. In the case of SCKT stock, the most significant risks to consider include:

  • Capital. Socket Mobile does generate revenue through the sales of its products, but it doesn’t earn nearly enough money to cover expenses. As a result, if the company doesn’t reach profitability before the money in its bank dries up, it’s likely to look to capital markets to raise funds, leading to the dilution of existing shareholder value and declines. 
  • Penny Stock. SCKT is a penny stock. As a result, it is subject to high levels of volatility. Moreover, like many others in the penny category, the company’s business model is relatively unproven, making a bet on Socket Mobile stock a highly speculative one. 

Final Thoughts

While there are risks to consider before diving into Socket Mobile, the stock is an exciting one today. With gains of well over 100% in the premarket, investors are cheering the launch of the DuraSled as it has the potential to drive significant revenue through the door. All in all, SCKT stock is one to watch closely.