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Koss Corporation (KOSS:US or NASDAQ: KOSS), one of the favorite meme stocks, bounced back as retail investors on subreddit r/WallStreetBets indulged in heavy activity on Wednesday. Over 60.33 million shares exchanged hands and the stock rallied as much as 69.16 per cent.
Another reason for this surge could be a recent report from Global Unified Communication that claims the headset market is likely to grow over the next six years. As per this report, the industry expects to touch US$ 4.9 billion in valuation by 2027 from its last year’s value of US$ 2.4 billion.
Koss Corporation is one of the key players in this market. It designs, and produces, and retails stereo headphones and related items.
Let check out this hardware stock’s performance and financials:
Koss Corporation (KOSS:US or NASDAQ: KOSS)
The stock was trading below US$ 7 per common share in the last decade. It all started at the beginning of 2021 when this junior tech stock gained retail investors’ attention.
WallStreetBets forum users propelled this stock to grow by more than 1000 per cent and helped it to set a record high of US$ 127.45 per piece on January 28, 2021.
However, it is currently trading at US$ 30.28 per share, down 76.24 per cent from its all-time high due to heavy meme stocks selloff in February.
It has a remarkable one-year return of 2,756.60 per cent and earnings per share (EPS) of US$ 0.10. Its market cap is US$ 254.21 million and a return on equity is 4.49 per cent. The stock has again started recovering this week with a rise of nearly 105 per cent.
Koss’ One-Year Stock Performance Chart. (Source: Refinitiv)
In the second quarter ended on Dec. 31, 2020, the headphone retailer reported sales of US$ 4.9 million, an increase of 18.4 per cent compared with US$ 4,162,659 in the same period in 2019.
Its diluted profit per share grew multiple folds to US$ 0.07 for the quarter against a loss of US$ 0.03 per common share a year ago.
From the above stock chart, it is visible that the stock is moving towards its 52-week high. But investors should keep in mind that the current volatility could be a steep barrier for this bull-run.
