Why Ammo Stock Popped Today
Shares of Ammo (NASDAQ: POWW) -- the little ammunition manufacturer that's made a habit of preannouncing strong sales long before they come out officially -- saw its stock rocket 12.5% as of 3:30 p.m. EDT Wednesday after, well, preannouncing strong sales long before they come out officially.
Specifically, in only early April 2021, Ammo announced that when it wraps up results for its fiscal first quarter of 2022 on June 30, 2021, it will report quarterly revenue of $27 million. That's 178% year-over-year growth.
As CEO Fred Wagenhals explained, "the refinement and expansion of our product offerings, coupled with our team's strategic capacity increase initiatives, continue to bolster AMMO's ability to address historical market demand, driving revenue as we strive to increase shareholder value." And that's giving him confidence that Q1's numbers will be strong.
Source Fool.com
