RTTNews | Jul 20, 2020 08:32AM EDT

08:31 Monday, July 20, 2020 (RTTNews.com) - Shares of DPW Holdings Inc. (DPW) are surging over 139% in pre-market today, after the company announced that its power electronics business, Coolisys Technologies Corp., is introducing a new product line of electric vehicle or EV chargers including an innovative charging solution that is expected to produce a full charge for an EV with a 150-mile range battery in just over 30 minutes.

The EV charging stations market is projected to reach $27.7 billion by 2027 from an estimated $2.5 billion last year, growing at a compound annual growth rate of 34.7%.

The stock has been trading in the range of $0.53 - $10.68 for the past one year, and closed Friday's trade at $2.06, down 2 cents or 0.96%. DPW is currently trading at $4.89, up $2.85 or 139.12% in the pre-market session Monday.

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