Anyone who’s been in a blackout lately knows what kind of utility batteries can have. For Expion360 (NASDAQ:XPON), that kind of utility was sufficient to build an entire company around. This tech stock gained nearly 60% in Thursday’s trading, and it’s largely thanks to a couple new releases.
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The new releases in question are known as the Aura Powercap 600 and the Aura Powercap 800. Both are a kind of clip-on inverter that allows an Expion360 battery to serve as a source of AC power. As the names suggest, the Powercap 600 will provide a 600-watt inverter, while the Powercap 800 will offer a slightly stronger 800-watt inverter. Those interested can place pre-orders for the devices now, with delivery expected in 2023’s second quarter.
While the devices won’t be sufficient to power larger appliances like refrigerators or things like that, this should be a positive benefit for those looking for small-scale power supplies. Outdoor enthusiasts should welcome the taste of technological supremacy on their camping trips, and those who want a little spare power around the house for computers.
Opening up a fresh market like that should help spur sales; it’s the kind of development that gave Generac (NYSE:GNRC) a boost not so long ago. Expion360’s selection by Imperial Outdoors as its exclusive supplier of batteries for an off-grid camper a while back couldn’t have hurt its perception as an up-and-comer in outdoor power either.
The last five days of trading for Expion360 stock look exactly like a company that just had a lightbulb moment. Trading was flat, down around the $1.40 range, until today hit and sent share prices climbing like crazy.
