Why Is AmpliTech (AMPG) Stock Down 34% Today?


  • AmpliTech (AMPG) stock is down on a late quarterly filing notice.
  • The company says this is due to problems with its crypto investments.
  • That includes $3.25 million lost with a fraudulent custodian.
AMPG Stock - Why Is AmpliTech (AMPG) Stock Down 34% Today?

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AmpliTech (NASDAQ:AMPG) stock is falling on Friday after the company provided a late quarterly filing notice to the Securities and Exchange Commission (SEC).

AmpliTech says the reason for the late filing concerns its trading of digital currency during the quarter. That includes $3.25 million worth of crypto that it no longer has access to. The company says this is due to its working with a potentially fraudulent custodian who no longer exists.

AmpliTech says that it’s working to recover the lost funds but currently expects to report them in its upcoming earnings report. That would result in a net loss of $4.7 million as compared to its net loss of $582,000 for the first quarter of 2023.

AmpliTech plans to file its quarterly report within the timeframe provided by Rule 12b-25 of the Securities Exchange Act of 1934. It also notes that its systems, records or other assets weren’t affected by its crypto investments.

AMPG Stock Movement on Friday

AmpliTech stock is seeing heavy trading on Friday alongside its late quarterly filing notice. This has more than 60,000 shares of its stock changing hands as of this writing. While that may not seem like much, it’s more than double the company’s daily average trading volume of about 22,500 shares.

AMPG stock is down 34% as of Friday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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