Digital Power Corporation (NYSEAMERICAN: DPW) is having a pretty strong start to the trading session this morning as excitement continues to build leading up to an investor webinar. The webinar will take place on Wednesday, December 20, 2017. Today, we’ll talk about why there’s so much excitement leading up to the webinar, what we’re seeing from the stock, and what we’ll be watching for with regard to DPW ahead.
Why DPW Is Exciting Investors
As mentioned above, there has been quite a bit of excitement surrounding Digital Power Corporation as of late, and for good reason. The company has made two key announcements that are leading to the excitement. Here are the recent announcements we’ve seen out of DPW:
- Coolisys And Cryptocurrency Hardware - First and foremost, DPW made an announcement a couple of weeks back surrounding Coolisys, its wholly-owned subsidiary. According to the announcement, the company would soon be launching an advanced power system for the cryptocurrency mining sector. In fact, the power solution was specifically designed to power the AntMiner S9 - the top of the line cryptocurrency mining machine. Of course, any news surrounding cryptocurrency is likely to cause positive movement in the market considering the excitement surrounding the industry. Naturally, this announcement is the reason for quite a bit of the strong movement we’ve seen as of late.
- Cryptocurrency Mining - More recently, and perhaps more importantly, DPW announced that it would be launching an entirely new business division. This business division would be focused solely on the mining of cryptocurrencies. In the press release, Digital Power Corporations said that their plans are to start by mining the top ten cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and more. From there, the company intends to expand its efforts as it builds mining farms all around the world. Considering that the biggest challenge to miners is power efficiency, and that DPW is a company focused on power efficiency, the company and its investors believe that it has a unique advantage over the competition.
With these two big bits of news, investor excitement surrounding DPW is running to highs. With the news in mind, many investors are sitting on the edge of their seats, waiting on the webinar that will be taking place in just a couple of days. While no one quite knows what to expect from the webinar, with the recent positive news, it’s likely to be something exciting!
What We’re Seeing From DPW
One of the first things that we learn as we start to dabble in the market is that the news causes movement. That’s exactly what we’ve seen out of Digital Power Corporation as of late, and it’s not likely to stop. In fact, the stock is seeing strong gains yet again today as it continues on its bullish run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:42), DPW is trading at $5.35 per share after a gain of $0.26 per share (5.11%) 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 company’s continued efforts in the cryptocurrency mining and mining power supply space. Considering the boom in the industry, this could be a major driver of growth ahead.
However, it’s important that we keep in mind that Digital Power Corporation focuses on more than cryptocurrency. In fact, the company has seen strong growth in both its defense business and its commercial business, and it expects to see a continuation of this growth as we head into the new year. Considering this, it’s also a good idea to watch what’s going on in these facets of the business as well. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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