Ault Global Holdings Inc (DPW) Stock Attempts To Rebound: What Next?

If you are looking into the stocks which have managed to emerge as notable gainers this morning then it might be difficult to look past the Ault Global Holdings Inc (NYSEAMERICAN:DPW) stock, which has rallied by 10% so far.

The stock rallied this morning after the company announced its preliminary results for the second fiscal quarter of the year. Investors seem to be particularly excited about the fact that Ault Global has managed to grow its revenues by more than 1000%. The company released a press release this morning and noted that its revenues are expected to hit $62 million for the second quarter. That is a staggering jump from only $4 million in revenues in the year ago period.

The revenues growth on a year on year basis stands at as much as 1048% and hence, there is no surprise that the Ault Global stock has rallied so strongly. The company revealed that the staggering rise in revenues was driven by its investing and lending operations. Those operations combined brought in revenues to the tune of $53 million. The investment in Alzamend Neuro also proved to be a smart move from Ault Global, since that alone brought in $40 million in the form of revenues.

Market Reaction:

As of 11:51, DPW stock soared 8% at $2.48 with more than 21.69 million shares, compared to its average volume of 5.01 million shares. The stock had moved within a range of $2.4100 – 2.8206 after opening the trade at $2.82. Over the past 52-week, the stock has been trading within a range of $1.4400 – 10.9400.