The share price of DoMark (OTC: DOMK) nearly doubled today as its wholly owned subsidiary, SolaWerks, announced its intention to rework its SolaPad and SolaCase to accommodate the recently launched iPad 3. The stock gained over 98% on 600,000 shared traded.
And why not? If you are going to chain your horses to a single company, you can do much worse than Apple (NASDAQ: AAPL). Apple is now the largest company in the world by market capitalization, valued at over $631 billion. This number comes from Apple’s recent victory over Samsung and stunning sales reports.
In July 2012, Apple sales grew by 14.5% from the month prior, owing to the release of its iPad 3, a product that users are raving about any chance they get. These raves are not limited to the “fanboy” crowd. Users who couple their iPads with SolaWerk’s SolaPad love their iPads even more. The SolaPad not only protects the tablet while providing a wonderful stand, but also enables hours of extended use. The SolaPad and SolaCase each provide users with a highly efficient solar panel on the backside of the case combined with an internal battery. As more and more people abandon their laptops, this extended life for their tablet is nothing short of a blessing for some, and for those that work at the beach, hella cool.
The reworking of these existing products will provide users with a softer cover among other yet-to-be-announced features.
The good news for SolaWerks does not stop there. Its upside is undeniable as Apple plans the release of two new products in the coming months. First, expect the highly anticipated iPhone 5 to arrive on September 21, 2012. Nearly every Apple rumormonger on the Internet and blogosphere agrees that the latest incarnation of the iPhone will include a larger screen. This will, of course, force SolaWerks to release a completely new product to accommodate this larger display. In the past, owners of the SolaCase have been able to upgrade their phones without needing to buy a new solar charger. The SolaCase works with each of the iPhones that Apple has released to date.
Steve Jobs, who loathed the idea of a smaller iPad, will be spinning in his grave this fall as most expect the announcement of this former bane to Jobs’ existence sometime in October. What is one man’s curse is another man’s windfall. The (mini) iPad is expected to sell around $200, making it much more affordable to many who see the starting price of $500 for the iPad 3 as daunting. This low price will allow Apple to really dry up sales of Google’s (NASDAQ: GOOG) similarly priced Nexus 7 and Amazon’s (NASDAQ: AMZN) Kindle Fire, while also further lining its already prodigious coffers. Additionally, this will obviously require yet another case from SolaWerks.
“Having experienced strong demand for our last SolaPad release, I believe the next series of SolaWerks products will be hitting the market at just the right time to tap into the considerable pent up demand for Apple accessories.” commented Brent Strasler, President of DoMark International.
The Apple accessories market, or “Apple Economy”, is valued at a conservative and growing $6 billion. DoMark should continue to enjoy success with its cases. As its product line expands, its stock should follow.