Sierra Wireless rides Internet of Things to 10-year-high stock price
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Toronto
SIERRA Wireless was selling equipment that allowed trains to be tracked online before the Internet of Things became the latest technology buzzword. Now that phrase is helping the company's stock trade near a 10-year high.
Sierra Wireless, the biggest seller of equipment to connect machines over cellular networks, was the third best performing stock on Canada's benchmark equity index in 2014 as revenue rose six straight quarters. The company's shares have soared more than sixfold over the past two years, outstripping Ubiquiti Networks, which tripled over that time for the next biggest gain among peers, according to data compiled by Bloomberg.
