Digital Power's stock rockets on heavy volume as bitcoin soars
Shares of Digital Power Corp. rocketed 34% on heavy volume Thursday, boosted by the surge in bitcoin through the $15,000 milestone. Volume was 1.9 million shares about 30 minutes before the open, enough to make the stock the most actively traded in the premarket. Digital Power's stock has been on a tear recently after the power-supplies company announced products aimed at the cryptocurrency and digital mining markets. At Wednesday's closing price of $2.74, the stock had soared more than four-fold in two weeks. Late Wednesday, the company denied rumors that it had inked a deal with Amazon.com Inc. for $450 million worth of cyrptocurrency hardware. Digital Power's stock has rallied 318% year to date through Wednesday, while bitcoin has run up 1,481% and the S&P 500 has gained 17%.
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