HTC stock shows promising signs of growth: is Vive to thank?
It’s no secret that HTC needs to turn its business around, and the company’s most recent monthly financial report only highlights just how low revenues have fallen. From a manufacturer that was once a force to be reckoned with in the smartphone market, the company’s share of total sales has been scraping the bottom of the barrel, and days of profits long ago transitioned to those of losses. Can new hardware directions like those offered by the Vive VR headset help return HTC to its former glory? While it’s too soon to say for sure, some recent stock market activity indicates that investors are hopeful.
HTC’s stock price has been more or less on the decline going back five years or so now, and while it once sold at $1,300 a share, the last few months have seen it trading in the $70s and low $80s.
But then all of a sudden, late last week, the stock started seeing some real upwards motion, rising from around $82 a share to above $90 – and it closed at $99 today.
There’s no certainty that things will keep on rising, but we haven’t seen the company’s stock at this level since last spring, but if early Vive pre-order interest is any indication, there’s reason to believe that investors could continue to look favorably on the HTC’s prospects, both near- and long-term.