Ault Global Holdings Inc. shares were up 9.76% to trade at $3.26 in premarket session this morning. An Ault Global stock price of $2.97 closed Wednesday’s session down -9.17%. Over the past year, DPW stock has gained 347.69% but has lost -24.04% over the past week. DPW stock has shed -19.51% over the last three months, while it added 64.92% in the last six months. The pre-hours rise in DPW stock has been driven by a multimillion-dollar order received by its subsidiary.
What was the purchase order for?
The Ault Global is a global holding company focused on acquiring disruptive technology and undervalued companies with a global impact. DPW provides a range of mission-critical products to a diverse range of industries through its wholly and majority-owned subsidiaries and strategic investments.
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Some of these sectors include defense/aerospace, automotive, telecommunications, industrial, telecommunications, textiles, and medical/biopharma. Additionally, a licensed lending subsidiary of DPW extends credit to select business entrepreneurs.
Coolisys Technologies, one of Ault Global’s power electronics businesses, has received a $10.5 million purchase order for 30,000 7kW home EV charging systems, as announced DPW in a press release today. iNetSupply.com, and its patent firm Origin Micro (collectively, “iNet”) entered into the contract as a part of the buy-and-resell agreement with Coolisys for the residential chargers.
Where will the charging system be used?
iNet anticipates that Coolisys will sell accessories to the residential charging EV systems in the amount of $1.5 million in conjunction with fulfilling the purchase order. The charger has a 7kW charging capacity and is a wall mount system. The system runs on 208/240 volts and is compatible with the SAE J1772 connector for charging Tesla vehicles by adding an adapter.