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How Did The Proxim (PRXM) Stock Skyrocket In The Last Session, Jumping 62%?

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In Tuesday’s session, Proxim Wireless Corp (OTCPk: PRXM) closed at $2.8900, up 62.36 percent. Its price range has been $2.89 throughout the day. Last month, Proxim stock surged by over 45.23 percent; with average monthly volume of over 795 shares.

In the past 12 months, PRXM stock has gained over 92.67%, reaching a high of $9.0000 with a market cap of $0.69M. The stock rose despite lack of news, so recent developments may provide useful insights into the PRXM stock.

How did PRXM recently fare?

Proxim Wireless, an outdoor wireless technology innovator, provides high performance, high availability systems for outdoor Wi-Fi and point-to-point communication. The PRXM team is well known for its quality, performance, and innovation in last-mile and mobile connectivity, as well as outdoor wireless connectivity.

Proxim Wireless recently established a new U.S. assembly and testing facility to improve service to North America and with the goal of decreasing lead times.

  • PRXM has recently received UL certification for its plant in San Jose, California, and currently production has begun.
  • PRXM’s primary goal is to manufacture 10100 and 10200 series products, but there are plans to expand PRXM’s capabilities over time.
  • Although PRXM initially plans to serve its own local market, it intends to also serve export markets, such as South America, Europe, and South Asia.

The CEO’s opinion:

In recent years, Proxim Wireless (PRXM) has observed the market here in the United States changing. In the aftermath of last year’s harrowing pandemic, the global supply chain was disrupted. PRXM recognized that it could build a better customer experience by manufacturing its products in the United States by having more flexibility in sourcing and managing its product mix. It was the logical choice for PRXM to build locally, and it was also the right choice.

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