Plus   Neg

Stock Alert: Polar Power Soars 110%

Shares of Polar Power, Inc. (POLA) more than doubles on Tuesday morning despite no stock-specific news to drive the shares.

POLA is currently trading at $2.87, up $1.50 or 109.489%, on the Nasdaq.

Polar Power, Inc. designs, manufactures, and sells direct current (DC), power generators, renewable energy, and cooling systems.

For the first quarter, Polar Power reported net loss of $201 thousand or $0.02 per share. Revenues for the quarter dropped 63% to $2.86 million from $7.75 million last year. The revenue decrease was primarily due to a slowdown in sales of DC power systems to Tier-1 telecommunications customers in the U.S as a result of our customers' transition to 5G systems.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Euromarket Designs, Inc., doing business as CB2, has recalled Junction tall chests and low dressers citing tip-over and entrapment hazards to children, according to the U.S. Consumer Product Safety Commission. The Chicago, Illinois - based company has called back about 11,000 units sold in the United States and about 355 units sold in Canada. Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported a profit for the fourth-quarter that increased 23.3 percent from last year, led by display and memory chip businesses.Quarterly revenue grew 2.8 percent from the prior year. The company expects overall profit to weaken in the first quarter of 2021. Facebook Inc. (FB) Wednesday reported a fourth-quarter profit that increased from a year ago, driven largely by 33% growth in revenues. The social media giant's earnings and revenues for the quarter trumped Wall Street estimates, but the company warned of "significant uncertainty" in 2021. Menlo Park,...
Follow RTT