DPW Holdings (DPW) Stock Rockets On Expected EV Charger Orders

DPW Holdings DPW Stock News

DPW Holdings Inc (NYSEAMERICAN: DPW) is running for the top in the marke this morning, and for good reason. The news surrounding a new electric vehicle (EV) charger product line. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

DPW Stock Runs For The Top On EV Charger News

In the press release, DPW announced that its subsidiary Coolisys and partners are testing the new EV charging product line. The company said that this includes innovative products that are expected to charge an EV for a 150-mile range in just over 30 minutes.

In the release, DPW said that the testing will take place at Coolisys’ new headquarters in California. It is expected that initial orders for the EV charging products will begin to roll iin the fourth quarter of 2020.

Importantly, Coolisys is currently working on EV chargers for all tpes of electric vehicles, including chargers for residential and commercial use as well as level 3 fast-charging solutions. The company’s chargers are also equipped to be used with just about all EV brands out there.

In a statement, Amos Kohn, President and CEO at the DPW subsidiary, Coolisys, had the following to offer:

We are looking forward to testing our new EV charger products with our key partner companies. These new products are well-positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally. Our entrance into the EV charger market significantly expands the breadth of our product offerings and we expect to receive initial orders for these products in the fourth quarter of 2020.

This News Is Huge

The news released by DPW and its subsidiary, Coolisys, proved to be overwhelmingly positive. Afterall, the EV charging stations market is a massive one. Last year, the market generated $2.5 billion for companies within it. However, by 2027, the EV charging station market is projected to reach $27.7 billion.

DPW is a relatively small company, trading with a market cap of around $18 million. The fact that the company is tapping into such a large market offers a substantial opportunity to generate revenue, making DPW stock one to watch.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don’t Miss The Next Big Story

Join our free mailing list below to receive real-time news alerts!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.