Cybersecurity
Internet of Things? Stock You've Never Heard of Just Rose 500%
- Telit adding software, data aggregation to hardware business
- Company entering connected car market with Audi as a customer
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A little-known stock listed in London has become a trade of choice for investors looking to profit from the technological megatrend known as the Internet of Things.
Telit Communications Plc, which sells hardware that lets everything from vending machines to rental cars transmit data wirelessly, has surged almost sixfold since the end of 2012. This year alone, shares of the company rallied 37 percent through Oct. 9, far outpacing its main industry rivals.