DPW Holdings Inc (NYSEAMERICAN: DPW) is having a pretty strong start to the trading session this morning, and for good reason. In a press release issued early this morning, the company announced that its subsidiary has delivered the first part of a $50 million order. Of course, this is leading to excitement, sending the stock upward. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for ahead.
DPW Subsidiary Announces First Product Deliver In $50 Million Order
As mentioned above, DPW is having a strong start to the trading session this morning after its subsidiary, Coolisys Technologies, Inc., delivered the first part of a $50 million order. In a press release issued early this morning, the company announced that Coolisys has delivered its first machine under the order surrounding the manufacture, installation, and services of textile treatment systems that take advantage of MTIX’s proprietary Multiplexed Laser Surface Enhancement System.
In the release, DPW said that numerous sub-supplier milestones have been met and cleared acceptance for final assembly of the system. As a result, the company expects to deliver the first unit by March 31, 2018. In s statement, Amos Kohn, CEO at the DPW subsidiary, Coolisys, had the following to offer:
With completion of this supply and fabrication milestone, lead times to deliver on this 3-year contract are reduced considerably enabling delivery of the initial unit… We’re pleased to finally be nearing the first delivery and to continue production ramp as planned.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, the company is not only on track, but ahead of schedule when it comes to a $50 million purchase order. That’s great news! So, it’s no surprise that the stock is making a run for the top in the market today. Currently (7:39), DPW is trading at $1.55 per share after a gain of $0.05 per share (3.33%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow DPW. In particular, we’re interested in the news surrounding the purchase order regarding this release. We’re also following news surrounding other growth in the defense and commercial sector as well as continued growth in the crypto space. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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