TruGolf Stock Rockets Over 50% Premarket After Raising Forecasts: Retail Sentiment Shoots Through The Roof

Shares of nano-cap TruGolf Holdings, Inc. (TRUG) jumped over 50% in Wednesday’s premarket after the provider of golf simulator hardware raised its 2024 guidance.

The Salt Lake City, Utah-based company expects 2024 sales to be about $22.5 million, marking a new record. It noted that the new guidance is based on the unaudited fourth-quarter results.

The guidance issued in November called for 9%-13% sales growth for 2024. 

TruGolf also raised its earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the second half of 2024 to over $2.2 million from a range of $1.1 million to $1.5 million. 

It expects 2024 EBITDA to be in excess of $1.2 million.

The company attributed the strong second-half growth to the launching of new games for TruGolf’s Multisport Arcade, an update to the popular Wild West Shooting game, and the E6 APEX Course play launch.

TruGolf CEO Chris Jones said, “We are very pleased with the growing sales momentum for our upgraded and industry-leading golf simulators.” 

The executive noted that interest in the company’s franchise concept remained high. He added that the company will announce contracts for additional franchises in the U.S. throughout 2025.

The first franchise locations would open before the end of the year, with associated delivery of TruGolf simulators in the first half of 2025.

TruGolf scheduled its fourth-quarter results for late March 2025. 

On Stocktwits, sentiment toward TruGolf stock turned ‘extremely bullish’ (90/100) from the ‘bullish’ mood that prevailed a day ago. The message volume improved to an ‘extremely high’ level.

TRUG sentiment and message volume February 19, premarket as of 9:02 am ET | Source: Stocktwits

A watcher said he would continue to hold the penny stock until it reaches the $1+ level, adding that the premarket rally is just the beginning of a run.

Another bullish user said the $1 mark could be reached on Wednesday.

TruGolf stock traded up over 53% at $0.6290 in premarket trading. However, it has lost about 39% so far this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<