What happened

Shares of Inseego (NASDAQ:INSG) were climbing last month. The maker of mobile hotspots for 5G and other protocols jumped as it announced a number of new deals with telecom operators. According to data from S&P Global Market Intelligence, the stock finished December up 56%.

As you can see from the chart below, most of the stock's gains came in the middle of the month as the expansions rolled in.

INSG Chart

INSG data by YCharts

So what

Inseego shares started to surge on Dec. 10, gaining 9% when the company said that T-Mobile had selected its 5G MiFi M2000 for its first mobile hotspot. The choice built on the company's partnership with the Inseego Subscribe solution, which gives telecom enterprise and government customers tailored device procurement and a management platform for their wireless assets.

A digital grid over a city skyline.

Image source: Getty Images.

The following day, the company announced its first 5G contract in Japan, partnering with Grape One, a subsidiary of Sumitomo. Inseego also said it would expand its presence in Japan, opening an office in Tokyo and adding sales staff. This expansion suggests that it expects more growth in that key market. It gained 12% in that session.

Inseego followed that up with a launch with Vodafone Qatar on Dec. 14, sending the stock up 10%. Finally, the stock jumped again on Dec. 22, though there was no news on the stock. It then cooled off over the rest of December.

Now what

Inseego shares more than doubled last year. Investors increasingly see the company as a play on the emerging 5G market. Though 5G is just part of the company's business, contracts like the ones above show the company is a leader in 5G hotspots and connectivity. Its partnerships should deliver growth down the road. With the help of the work-from-home movement, revenue has accelerated in the last two quarters to the company's fastest pace in nearly a decade. If the company can maintain that growth rate, the stock should continue to climb from here.

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