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Saturday, December 9, 2023

BSQUARE Corporation (BSQR) Shares on a Ride with a 13% Rise in Pre-Market

BSQUARE Corp. (BSQR) is trading on a green zone and looks like a normal trading day with a high trading volume. Let’s see what could push BSQR stock further in the coming days.

There is nothing in the news as the BSQUARE Corp. (BSQR) shares are in the mood. The company released its second-quarter 2021 results earlier in August 2021. Things have been quite flat for the company since then. However, the shares soared over 6% yesterday and are up by 13% in the Pre-Market as of 22nd September 2021.

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The traders look in mood and are trading the stock based on the technical indicators. The stock is trading up the around $2.73 range and it is in the selling zone. BSQR has strong resistance of $3.01 in the short term and the price of shares can plunge back to $2.24, which is strong support in the short term.

However, in the long-term, BSQUARE stock looks promising and has a resistance of $8.41. Let’s see what potential aspects can support BSQR’s near long-term resistance.

Recently, the quarterly results proved out to be a significant catalyst in attracting investors. The company saw a decent 7% rise in its revenue from the first quarter of 2021. However, the other results weren’t convincing at all. BSQUARE’s loss from operations was $1.3 million, an increase from $0.9 million in the first quarter. While the cash also dropped $1.1 million.

The rise in quarterly revenue was pushed by a convenient supply chain compared to the previous quarter – from large customers. The CEO of BSQUARE, Ralph C. Derrickson, stated that they saw an overall improvement in their bottom line. The better performance was driven by increased revenue, continued expense management, and forgiveness of our PPP loan.

In addition, BSQUARE Corp. (BSQR) is the leading Internet of Things (IoT) distributor to Microsoft Windows. The company has a strong cloud ecosystem and the increasing demand for IoT puts BSQR at the forefront of the market. The company offers OS services for Windows and Linux users. BSQUARE is known for its step-by-step guidance and technical support to initiate an OS project.

We see more companies relying on IoT services to solve business challenges, helping them to improve product quality. BSQUARE has a strong base in this market and is working on its subscription model.

IoT spending is expected to exceed 24% in 2021 and the IoT devices are expected to reach 22 billion by 2025. BSQUARE Corp. (BSQR) is working on an IoT business model and we could see a ripple effect on the stock with increasing sales of the company.

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