The best-known money gurus—from Ramsey to Kurasaki and beyond—tend to have a few common phrases. “Pay down your debt,” or some variant thereof usually comes into play. It turns out that works for stocks, too, as COMSovereign (NASDAQ:COMS) blasted up over 30% in Monday afternoon’s trading at the time of writing.
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COMSovereign does a lot of development work in both 4GLTE and 5G communications tools, both of which are vital to the ongoing mobile communications landscape. But the firm also had a lot of debt on its hands. It still has quite a bit in objective terms, but it’s also made major moves to reduce it. Currently, it has around $2.2 million in debt outstanding, but that represents a roughly 80% reduction versus last year. That’s a big step forward, and investors look like they’re repaying COMSovereign’s prudence, as it’s been working hard at “refocusing operations” and “cutting costs.”
Overall, it’s been an unusual five trading days for COMS stock. Plateaus get broken by unexpected surges, only for the surges to falter. The faltered surges turn into brief plateaus themselves before sliding, and then the process repeats. Even with the huge gains seen today, COMS is down 11.66% over the last five days.
