In a letter to investors, Coakleys chief financial officer Barry Coker says his firm believes that a “supernova” is coming in the stock market.
He says the market is experiencing a “surge in demand” for the stock, but that it is too early to say how much that will drive up the price.
He also says the company is expecting to have $2.6 billion of cash in its bank account by March.
“The market has been on a roller coaster ride,” Coker wrote in the letter.
“This is a supernova, and it is coming and it will come.
It’s going to be big.”
In the letter, Coker also says he is expecting an earnings boost for the company, saying that the company has more than doubled the cash it has put into its bank accounts since March to $1.5 billion.
He also wrote that the “supernovae” are “moving very quickly” and “there is no doubt” the stock is headed for another “significant run-up” this year.
He said that the price of Coakys shares is expected to reach $9.90 by the end of the month, “a price that is not expected to be surpassed for some time.”
The stock is up about 16 percent so far this year, and was up by about 30 percent last year.
Read more: Coakies shares rise over 3% after new analyst says market is ‘supernovas’ article Coakney’s stock is not the only one seeing a “significant” jump in the price, which is why Coker said the stock has “an opportunity to accelerate.”
Coker writes that the stock will hit the $9 level in the next couple of months.
He thinks that the market has “a supernova” on its hands, but he says that he doesn’t think the stock should “be priced too high or too low.”
“We believe that the future of the company hinges on its ability to execute its business plans and generate significant revenues,” he wrote.
“In the short term, we believe that Coakie will be able to maintain its current financial performance, and we believe the market will react favorably to the strong fundamentals of the Company.”
Coker added that the Company’s management team is “on track” to achieve its “full potential,” adding that the management team has been “strongly supportive” of the Board.
Cokers letter concludes by saying that “the market’s reaction to Coak is not yet complete,” but that the firm is “very confident that its momentum will continue.”
Read moreFrom Axios:Coakley shares rose more than 3% in after-hours trading after the letter was published.
The company has seen a surge in demand for its products.
According to the Wall Street Journal, sales of Coaks are up 60% in the last three months of 2017.
Coakies stock price has been higher since the beginning of the year, when the company launched its first electric car, the Cooper.
The company’s new product line is expected in the first quarter of 2018.