BOXL Stock Price: Boxlight Corp sinks ahead of quarterly earnings call
|- NASDAQ:BOXL falls by 12.85% during Thursday’s trading session.
- Strategic deal with Samsung provides a look into the future of education.
NASDAQ:BOXL has certainly tantalized investors with its recent performance even though the stock price is still down considerably – down nearly 50% from just a month ago. Shares of the education technology firm dipped 12.85% through Thursday closing at $2.17 – erasing much of the gains made on Wednesday. Boxlight’s stock is now in negative territory over the past 52 weeks and lags the overall performance of the S&P 500 by nearly 20%.
On Wednesday, Boxlight announced a strategic partnership with Samsung Electronics to provide classroom displays and software applications to the education market in America. The deal utilizes Samsung’s displays with Boxlight’s Oktopus software which creates a fully interactive learning environment for children and teachers alike. Oktopus provides specific teaching tools as well as device collaboration – which could pave the way for the implementation of distance education if the COVID-19 pandemic continues into the new school year.
BOXL Stock News
Boxlight will hold its quarterly earnings call on Friday and Wall Street analysts are anticipating a 20% decline in revenues year-over-year. The education technology sector has been hit especially hard by the coronavirus as school closures and a lack of technological infrastructure to support current distant learning techniques will undoubtedly hurt BOXL’s bottom line.
The deal with Samsung is an optimistic look into the future of the company, especially if schools do re-open this September – despite COVID-19 still rearing its ugly head in many pockets of America. Thursday may have been a selloff by investors out of fear in anticipation of a poor earnings report. On the bright side, the coronavirus lockdown was a situation where things could not be much worse for BOXL – so the next quarter could show signs of a return to normalcy.
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