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June 1, 2021, 6:59 a.m. EDT

Ault Global stock rallies after Coolisys sub forms EV charging services sub TurnOnGreen

Shares of Ault Global Holdings Inc. rallied 3.3% in premarket trading Tuesday, after the diversified holding company said its Coolisys Technologies Corp. subsidiary formed a subsidiary TurnOnGreen Inc. to provide electric-vehicle charging services. Coolisys expects TurnOnGreen's products will include "ultra-fast" charging stations for residential and commercial use, as well as charging management application software and services. "We have the products, the people and the passion to quickly enter the dynamic EV charging market and quickly scale to provide affordable EV chargers for home, businesses and destination locations," said TurnOnGreen Chief Technology Officer Douglas Gintz. The stock has tumbled 37.9% year to date through Friday, while the S&P 500 (S&P:SPX) has gained 11.9%.

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