In the ever-growing list of cryptocurrency plays that investors can choose from, Asia Broadband (OTCMKTS:AABB) stock is seeing a recent appreciation that is generating buzz.
Asia Broadband has been on the InvestorPlace radar for a little while now, interesting contributors with its quirky rebranding and unique take on crypto. The company had started in 1996 as a digital education and media business, but has recently pivoted toward mining. Its newest offering falls in line with its mining endeavors, tying the crypto’s value to gold prices.
The move to cryptocurrency has been paying off nicely for AABB stock, seeing its value rise by over 73% after the announcement. The company’s legitimacy within the crypto space is solidifying quickly.
This morning, investors are seeing more gains for AABB stock as the company makes two huge announcements. The first good bit of news is that the company is confirming a profit of nearly $17 million from its mining operations in the last year. This growth is moving the company to expand its mining operations, adding a Mexico-based resource extraction model to its existing Asia model.
Secondly, the company has announced that its AABBG token is live on the market as of Monday. Its launch of the product has shown its great success in expanding existing business models to accommodate new technologies.
Asia Broadband’s News Is Leading to Gains in AABB Stock
Tying the token to the value of gold packages Asia Broadband’s two business models together. And importantly, investors are excited by the innovation. In fact, the excitement is driving AABB stock up rapidly this morning. Shares are up by nearly 10% today.
Keep in mind that AABB stock is still very small at around 35 cents a share. It is also quite volatile, which is not unsurprising in the crypto space. However, given its unique business model, investors would be rise to research Asia Broadband. Keep this equity on your radar here.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.