Home Financial Markets Penny Stocks Is There Any Real Reason Why The Asia Broadband (AABB) Stock Rocketed...

Is There Any Real Reason Why The Asia Broadband (AABB) Stock Rocketed 316%?

Asia Broadband Inc [AABB] rose 316.27% in the last trading session, closing at $0.2123. The number of shares traded was 330.704M, versus the 30-day volume average of 72.617M. In the past 52 weeks, the stock price ranged from $0.0013 to $0.2340.

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Company Profile:

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Based in the People’s Republic of China, Asia Broadband, Inc. operates as a digital education media and technology services provider offering classroom-based education in addition to an internet broadband network.

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In the United States, the company focuses on precious and base metal production, supply, and sales primarily to Asian markets through its wholly-owned subsidiary Asia Metals Inc. Its unique geography, experience, and extensive industry contacts enable it to manage its innovative distribution process from Mexico, where the Company produces and supplies precious metals, to Asia, where the Company sells to customers.

What caused the stock to surge on Tuesday?

The company on Tuesday announced that Core State Holdings (CSHC), a cryptocurrency wallet and token developer, has completed the development of the AABBGoldToken.com site for Asia Broadband Inc.

The company is in plans of launching AABB Wallet and AABB Gold token soon, and the token website will act as a knowledge base for users about those products.

The AABB Wallet applications for iOS and Android are nearing completion of testing, with an API available to see real-time gold prices, which will be tied to the price of the AABB Gold token set at one-tenth of a gram or around $5.80.

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Aside from these, CSHC has developed algorithms and mechanisms for the operation of the AABB Golds cryptocurrency to be exchanged for other major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Once the API is implemented, CSHC will proceed to set up the cryptocurrency exchange. A crypto-to-FIAT exchange by CSHC, which will allow users to exchange virtual currencies for US dollars, Euros, and Canadian dollars, is planned for the future.

The company expects to put its AABB Gold (AABBG) token live next week.

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