When a company reports historically strong numbers, then it is almost a given that it would have a positive effect on its stock and that is what happened with the Dalrada Corporation (OTCMKTS:DFCO) stock this past Friday.
Trading Data
On Friday, DFCO stock soared 33.88% at $0.79 with more than 445k shares, compared to its average volume of 111k shares. The stock has moved within a range of $0.5000 – 0.8390 after opening trade at $0.59.
Earnings Optimism
After the announcement of the financial results on Friday, the Dalrada stock soared by as much as 34% as investors piled on to it in a big way. It is easy to see why the stock soared so strongly. Dalrada reported that it had generated revenues of as much as $4,602,353 in the quarter and that reflected a rise of as much as 506% from the $759,393 in revenues that it had generated in the prior year period.
It was the strongest quarter for Dalrada and it now remains to be seen if more and more investors pile on to the stock in the coming days. On the other hand, it ought to be pointed out that the gross profits for the quarter soared to as much as $3,398,018 and that represented a year on year rise of as much as 546% from the $525,965 that it had generated in the prior year period. You could consider adding the stock to your watch list for the week.
Key Quote
Brian Bonar, Chairman and CEO of Dalrada, states, “I am very pleased with our topline revenues for the quarter. We are making the right decisions to grow and position our organization for future success while strategically increasing stockholder value as we achieve our future goal of uplisting to NASDAQ.”
Technical Data
DFCO stock is above the 20-Day and 50-Day Moving averages of $0.62 and $0.42 respectively. Moreover, the stock is trading above the 50-Day moving average of $0.37. The stock is up 16227 in the past 3-month.
