DPW Holdings Inc (NYSEAMERICAN: DPW) is having a relatively strong start to the trading session in the pre-market hours this morning after a rough day in the market yesterday. In fact, the stock was down more than 10% yesterday, prompting us to email our subscribers about the dip and potential opportunity. Well, those that got the email and acted are likely happy as the stock is making its way toward the top today. Below, we’ll talk about the recent news surrounding DPW, what we’re seeing from the stock, and what we’ll be watching for ahead.
Recent News Surrounding DPW
Over the past couple of months, DPW Holdings has released quite a bit of news, and it has all been pretty exciting. Here are the biggest bits of news that we’ve received from the company as of late:
- Acquisition News – Most recently, DPW announced that it has acquired a company known as Enertec Systems. The company is focused on the defense sector, aligning well with one of the divisions within DPW Holdings’ business. In fact, through this acquisition, we will likely see improvements in both the commercial and defense sides of the business.
- Coolisys Product Launch – Another bit of news that was released in the last couple of months surrounding DPW actually came from its wholly-owned subsidiary known as Coolisys. The company announced the launch of new advanced power systems – a product designed specifically for cryptocurrency miners. As mining cryptocurrencies becomes a more and more popular endeavor, demand for the technology that makes miners efficient is rising. So, there’s likely going to be a high level of demand here.
- Cryptocurrency Division – Finally, DPW recently announced that it has formed a cryptocurrency division within the company. Through the cryptocurrency division, DPW Holdings will enter into the field of cryptocurrency mining. The company said that it intends to start by mining the top 10 cryptocurrencies and expand its operations from there.
What We’re Seeing From The Stock Today
While DPW Holdings had a rough day in the market yesterday, we’re seeing some positive news today as investors seem to realize the opportunity that comes with yesterday’s dip. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:16), DPW is trading at $3.28 per share after a gain of $0.20 per share (6.49%) 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 defense and commercial sides of the business moving forward, as the acquisition of Enertec Systems is likely to assist these areas of the business greatly. We’re also watching the company’s movements in cryptocurrency and excited to see the results of the mining ambitions of the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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