Digital Power Corp. (DPW) denied rumors that it had inked a deal with Amazon.com Inc. (AMZN) for $450 million in cryptocurrency hardware on Wednesday afternoon, explaining that the company has not even negotiated any deal with Amazon. “While DPW has made moves towards entering the cryptocurrency and digital mining spaces and has disclosed its activities in recent press releases and will continue to do so, DPW categorically denies the validity and accuracy of any such rumors,” the company said in a news release. Digital Power, a small power-supplies company with a market cap of less than $50 million at the end of Wednesday trading, experienced rocky trade amid the rumors. In Wednesday’s session, shares gained as much as 39.3% and closed with a 24.9% decline at $2.74; in late trading after denying the rumors, shares topped $3 for gains of more than 13%. Amazon stock closed up 0.9% at $1,152.35 and was not moving in after-hours trading.
-Jeremy C. Owens
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