Why Is Ault Alliance Stock Soaring Today?
Portfolio Pulse from Lekha Gupta
Ault Alliance Inc's (AMEX:AULT) shares are up by over 30% following the release of its Q3 FY23 preliminary results. The company reported revenues of $52.5 million, up from $49.8 million a year ago. The annualized revenue run rate of Sentinum Bitcoin mining is around $32 million. The company is also seeing growth in the Ault Venture Group and Defense Sector. AULT expects FY23 revenue of $190 million - $200 million and higher revenue growth in its BitNile Metaverse business for 2024.
October 23, 2023 | 1:04 pm
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Ault Alliance Inc's shares are up by over 30% following the release of its Q3 FY23 preliminary results. The company expects FY23 revenue of $190 million - $200 million and higher revenue growth in its BitNile Metaverse business for 2024.
The company's shares are up due to positive Q3 FY23 preliminary results. The company's revenue has increased from the previous year and it expects further growth in the coming fiscal year. This positive financial performance and future outlook are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100