By Ben Glickman
Shares of Ault Alliance surged Wednesday after the company said it expected "robust financial growth" in a shareholder letter.
The stock was up 73% to $5.72 in mid-day trading. Shares are down 80% year to date.
The Las Vegas-based holding company, which is invested in Bitcoin, said it expected $200 million in revenue in 2023, up from last year's revenue of $134.2 million.
Ault Alliance said its projections were subject to volatility in Bitcoin prices and other factors affecting Bitcoin mining.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
07-12-23 1029ET