Why Sony's Stock Is Trading Higher Today

Sony Group Corporation SONY shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight.

A Bloomberg report also indicated Sony's PlayStation 5 surpassed 10 million units sold.

Sony Group Corp is a conglomerate with consumer electronics roots, which not only designs, develops, produces, and sells electronic equipment and devices, but also is engaged in content businesses, such as console and mobile games, music, and movies.

Sony's stock was trading about 3.3% higher at $102.96 per share on Wednesday. The stock has a 52-week high of $118.50 and a 52-week low of $72.45.