Ault Global stock slides even after record Q2 revenue, swing to profit

Crypto miner Ault Global Holdings (NYSE:DPW) stock slides 12% even after Q2 revenue of $62.1M rises significantly from $5.4M in Q2 2020. Before today's decline, DPW shares gained almost 22% in the past month. Revenue from lending and trading activities transitioned from a loss of $34K in Q2 2020 to a gain of $53.3M in Q2 of this year. "We are announcing a goal to grow assets to more than one billion dollars," Founder and Executive Chairman Todd Ault said in a statement. "Over the long term, we envision allocating $250M to DP Lending, $250M to real estate investments, and $500M to completing acquisitions," he added. At Q2-end, the company's assets stood at $259.1M. Operating expenses of $10.0M in Q2 rose from $2.7M in Q2 a year ago. Q2 net income of $42.2M swung from net loss of $1.38M a year ago. Q2 cryptocurrency revenue of $291K rose from nil in Q2 2020