After Wednesday’s 46.3-percent stock concession, Digital Power Corporation DPW rises again.
Shares popped 31 percent pre-market Thursday after the firm raised 2018 revenue guidance 50 percent from $25 million to between $36 million and $38 million.
The change is justified by a swell in orders at Digital Power’s defense and commercial units, including a major Microphase Corporation order from the U.S. Air Force. Management anticipates additional orders throughout 2018, compounded by synergies from Microphase, impending approval of Digital Power Lending’s California license, the development of a hospitality division and cryptocurrency exposure.
Digital Power’s stock nearly tripled between Monday and Wednesday on the unveiling of subsidiary Coolisys Technologies’ cryptocurrency hardware and rumors of a related collaboration with Amazon.com, Inc. AMZN.
The firm denied any affiliation or negotiation with Amazon post-close Wednesday, after the stock had already plunged off its 17-year high. Since 2000, shares haven’t traded above $2.70. This week, they struck $5.10.
At the time of publication, shares were set to open at $3.50, up 27.7 percent off Wednesday’s close.
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