California-based DPW Holdings Inc. (NYSE:DPW) is the early winner in the market today after DPW stock soared following a major announcement from the company.
Why Investors are Excited
This morning, the company announced that one of its subsidiaries is going to relaunch the popular online Fintech portal MonthlyInterest.com, and soon enough DPW stock started surging. The website in question is a hugely popular one since it allows users to choose a portfolio, make an investment, and then earn monthly interest on the money that they invested. During uncertain economic times, this could prove to be an unqualified success.
The interests are going to be paid on a monthly basis, and that is perhaps the most attractive aspect of the whole thing. The sectors in which a user can invest include real estate, defense, hospitality, commercial lending, and blockchain, among many others. It has a wide variety of options that should appeal to investors of all temperaments and risk tolerance.
In the afternoon trading period, DPW stock rose by as much as 300% on the back of the news as investors piled on to the stock.
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In a statement released today, the Chief Executive Officer and Chairman of the company, Milton Ault, stated, “We believe MonthlyInterest.com will be disruptive by providing investors the opportunity to invest directly into companies and technology that will have a global impact, bypassing traditional banking and lending institutions.”
This is a significant development for DPW Holdings and all those who are invested in the company. This is a product that is surely going to attract interest from people and has the potential of generating revenues for the company straightaway.
On the other hand, the turmoil in the capital markets due to the trade war between the United States and China has also proven to be a deterrent for many investors over the past months. In such a situation, a steady earner like MonthlyInterest.com could prove to be a popular investment destination.
Despite today’s jump, DPW stock is still down 90% year-to-date.
Featured image: DepositPhotos © DmitryPoch
