Greenpro Capital (NASDAQ:GRNQ) stock is heading for the moon today as investors take interest in the company on recent satellite news.
Here’s what to know about the news sending GRNQ stock higher today.
- Greenpro Capital incubator company Angkasa-X will be working with Silkwave Holdings in the deal.
- This will have the two developing and operating a satellite and services platform in Southeast Asia.
- The goal of this project is to bring the internet to the underserved area of Southeast Asia.
- That partnership will result in the creation of a Space Technology Ecosystem in Penang, Malaysia.
- This is intended to act as a distribution center for global satellite technologies in the ASEAN market.
Lee Chong Kuang, CEO of Greenpro Capital, said this about the news boosting CRNQ stock today.
“The Partnership is the first between a GEO and a LEO platform, which will bring about unprecedented synergies such as universal connectivity along with abundant low-cost and innovative infotainment and broadband data services to mass-market consumers throughout the ASEAN region. This will usher in a new era of digital transformation in this growth market and leapfrog it into one of the most advanced satellite service markets in the world.”
Today’s news has GRNQ stock seeing incredibly heavy trading. As of this writing, more than 165 million shares have changed hands. That’s a massive jump from the company’s daily average trading volume of about 1.1 million shares.
GRNQ stock was up 62.2% as of Friday afternoon.
Investors looking for more stock news are in luck!
InvestorPlace has all the latest stock market news that traders need to know about today. That includes what’s happening with Snowflake (NASDAQ:SNOW), Geovax Labs (NASDAQ:GOVX), and Marin Software (NASDAQ:MRIN) shares today. You can get all that news at the links below!
More Friday Stock Market News
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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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