DPW Holdings Inc (NYSEAMERICAN: DPW) is having a strong start to the trading session this morning after the company announced that its subsidiary has received a supplemental new order valued at $2 million. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The new order;
- what we’re seeing from DPW as a result; and
- what we’ll be watching for ahead.
DPW Announces $2 Million Order
As mentioned above, DPW is having an incredibly strong start to the trading session this morning after the company announced that its subsidiary has received a new order. In a press release issued early this morning, the company broke news that Microphase Corporation, a division of the DPW subsididary Coolisys Technologies, received a new order. The new ordr comes at a value of $2 million and was placed to supplement the original $2.1 million contract award that was announced on July 24, 2018 from a top-tier U.S. government defense contracter. As a resulto fht eincrease, the total order size is now $4.1 million and the term will extend into early 2020. In a statement, Rock Martel, General Manager at Microphase, had the following to offer:
We believe this significant supplemental order further illustrates our customers’ confidence in our ability to meet their needs. Microphase’s innovative radio frequency (RF), microwave and millimeter-wave technology solutions and products enable our customers to achieve higher performance and reliability at a reduced cost.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of DPW Holdings, the news proved to be overwhelmingly positive. After all, the company’s subsidiary has locked in an additional $2 million in revenue over the next year and a half or so. So, it comes as no surprise that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:42), DPW is trading at $0.46 per share after a gain of $0.015 per share or 3.38% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DPW. In particular, we’re interested in following the story surrounding the company’s continued growth in the defense and commercial space through the Coolisys Technologies subsidiary. We’re also following the company’s involvement in the cryptocurrency space. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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