So earlier today I noticed a strange entry in the news feed for SONOS (SONO):
It was confusing because there was no context, but it seemed to indicate that SONOS was thought they should be valued at $21, which is exactly how an Algo would read that statement. Naturally SONO started dumping.
Now, thankfully BZ issued a correction, they actually meant to say that “SONO Group”, an EV company is planning to IPO at $21:
But the correction I think might have simply reinforced the prior statement in the eyes of our robotic friends as it’s continued lower as a result:
So the interesting bit comes in the fact that SONO has earnings tonight while currently being down >3%. Per earnings whispers they are expected to smash earnings and also expected to move higher based on previous reactions to good results:
Presents somewhat of an interesting opportunity. Took some gamble calls on it.
What gamble calls did you take?
Probably what ever you are comfortable with gambling. <3
ill take a gamble call with you. eyeing 35c fd since the IV is lowest and OI is highest
took a tiny position- 2 dec 17 calls
Also is the Algo not reacting to the lawsuit between google and Sonos ? Could this throw off earnings even if it’s good. Not a good look to be up against google
That news was over 20 hours ago though.
Could be late reaction …. I would assume algos are fluid and some movements take time to develop a decision?
Sonos is the plaintiff in that suit, the potential is greater to the upside for them.
Guys i am googling and finding that they might have supply chain issues. For me this could mean a guide down in Q4.
They definitely have supply chain issues. Found videos on twitter and tiktok mentioning wait times of 9 months to 1 year just for products.
Just looked at their product on Amazon - unavailable…most of the product but has good reviews
What product? I see a bunch in stock.
Ok, I went to brand:Sonos on Amazon and click on the speaker
It seems sets are unavailable and individual speakers available
Great call @Conqueror are you looking to sell right at open or wait for a runup towards 10am-ish? Might be some quick profit taking right at open I presume?