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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.

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