TruGolf Stock Gallops In After-hours On Availability Of New Portable Golf Launch Monitor In Canada: Retail Gets Excited

TruGolf Holdings, Inc. (TRUG) stock rallied in Thursday’s after-hours as traders welcomed a product launch from the Salt Lake City, Utah-based provider of golf simulator hardware.

In a statement released after the market close, the company said its portable launch monitor “LaunchBox” is now available in Canada.  The company added that the camera-based system seamlessly integrates with its golf software and web products.

TruGolf said the LaunchBox uses high-speed cameras to capture club and ball data without needing specialty balls or marked clubs and its easy-to-read display shows shot metrics instantly. It works directly with TruGolf’s latest virtual golf software E6 Apex.

“LaunchBox offers tour level accuracy at a price that’s attainable for every golfer,” said TruGolf’s Chief Revenue Officer, Doug Bybee. 

With the LaunchBox launch, the company said it can now compete in the “high-volume/lower-price market, offering an amazing mix of TruGolf hardware and TruGolf software to golfers of any budget.”

In November, the company reported a 82% year-over-year (YoY) sales increase to$6.24 million and break-even bottom-line results. It expects 2024 revenue to rose by 9%-13% and second-half earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.10 million to $1.50 million. 

On Stocktwits, retail sentiment toward TruGolf stock flipped to ‘bullish’ (64/100) from the ‘bearish’ mood that prevailed a day ago. Message volume rose to  ‘high’ levels.

A TruGolf stock watcher on the platform said they see more gains loading following the company’s earnings report.

Another analyzed the technical chart and said if the stock manages to break above $0.70, it has the potential to run up to the $0.95/$1 levels. 

Following the announcement, TruGolf stock jumped 20.08% in the after-hours session. The nano-cap has lost about 28% in January on top of the 94% plunge in 2024.

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