Cogent, Flex, and Rumble Shares Skyrocket, What You Need To Know

What Happened?

A number of stocks jumped in the afternoon session after Iran-US peace deal progress and falling Treasury yields restored corporate confidence. 

This could serve as a catalyst for CFOs to greenlight the consulting, staffing, and outsourcing contracts they had paused during the conflict. Business services companies make money on "white collar GDP." So when the macro picture improves, project backlogs unfreeze, and the firms that execute them get paid.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Terrestrial Telecommunication Services company Cogent (NASDAQ:CCOI) jumped 9%. Is now the time to buy Cogent? Access our full analysis report here, it’s free.
• Electronic Components & Manufacturing company Flex (NASDAQ:FLEX) jumped 8.7%. Is now the time to buy Flex? Access our full analysis report here, it’s free.
• Digital Media & Content Platforms company Rumble (NASDAQ:RUM) jumped 8.3%. Is now the time to buy Rumble? Access our full analysis report here, it’s free.

Zooming In On Cogent (CCOI)

Cogent’s shares are extremely volatile and have had 40 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 21 days ago when the stock gained 7.2% on the news that JPMorgan upgraded the stock to Overweight from Neutral, viewing the previous day's sharp sell-off as an attractive entry point. 

The upgrade followed a 29% drop in the stock after the company's first-quarter report. While Cogent's reported loss of 83 cents per share was better than Wall Street's expectations, its revenue of $239.2 million slightly missed forecasts, triggering the initial decline. 

In its decision to upgrade, JPMorgan cited a 9% year-over-year growth in On-Net and Waves revenue. The bank also noted that the planned sale of 10 data centers, expected by early summer, should provide proceeds to significantly reduce debt and improve the company's financial position.

Cogent is down 4% since the beginning of the year, and at $19.78 per share, it is trading 62.6% below its 52-week high of $52.91 from July 2025. Investors who bought $1,000 worth of Cogent’s shares 5 years ago would now be looking at only $266.68.

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