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Why did Ideal Power Inc. (IPWR) stock plunge on Friday?

GILD Stock

GILD Stock

Ideal Power Inc. (IPWR) shares lost 6.68% in after-hours on Friday, July 2, 2021, and closed the week at $12.02 per share. Earlier in the morning session, IPWR’s stock lost 1.08% to close Friday’s morning session at $12.88 per share. IPWR shares have risen 122.07% over the last 12 months, and they have moved down 5.22% in the past week. Over the past three months, the stock has gained 2.63%, while over the past six months, it has declined 57.65%.

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Let’s see what is happening recently with IPWR?

Ideal Power collaboration with Diversified Technologies, Inc.

On June 16, 2021, Ideal Power Inc announced its partnership with Diversified Technologies, Inc. (DTI), to develop a B-TRAN™-driven low-loss 13.8 kV alternating current (AC) Solid State Circuit Breaker (SSCB)under a Phase I Small Business Innovation Research (SBIR) grant from the Department of Energy (DOE). The SSCB is intended to be used in medium voltage power distribution and renewable energy/microgrid connection to the United States main power grid.

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DTI and Ideal Power will design a 50 MW13.8 kV-class SSCB, build and demonstrate B-TRAN™ switch modules to interrupt AC power; and confirm the efficiency and speed of the B-TRAN™ devices in AC operation.

Participation in the recent conferences

The company’s Vice President Business DevelopmentJeff Knapp presented the company.

Recent financial results announcement

On May 13, 2021, Ideal Power Inc released its financial results for its first quarter ended March 31, 2021.

Q1 2021 financial highlights

Conclusion

Well as of this writing, we are unable to find and latest news or developments which could justify its poor performance on Friday. we hope that after the long weekend IPWR will recover its loos on Tuesday.

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