One of the more intriguing — and speculative — stocks of late has been Asia Broadband (OTCMKTS:AABB). Indeed, retail investors have flocked to AABB stock as another popular moonshot bet of late.
Indeed, Asia Broadband is one of those companies that’s still finding out who it is. This company touts itself as a “resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets.” Sounds like a decent pandemic rebound play.
However, retail investors seem to be focused on Asia Broadband’s potential crypto angle. The company has been looking to use its gold reserves to back a move into being a crypto exchange player.
Let’s dive into what some investors are watching with AABB stock right now.
AABB Stock Moving on Crypto Exchange Hopes
Earlier this year, Asia Broadband saw some massive swings in its share price as retail investors jumped on this meme stock. Much of this had to do with the company’s aforementioned move to launch a gold-backed cryptocurrency.
However, a recent announcement from Asia Broadband that the company has hit a number of development milestones in preparation for its for its crypto exchange has some investors excited. This crypto exchange is purportedly going to allow for the implementation of modules for workers as well as various crypto-secured loans that could revolutionize various sectors.
As per this press release, it’s expected Asia Broadband will release another update sometime this week or next. Accordingly, investors bullish on this company appear keen to keep an eye on what’s announced. The company has said this announcement will be around various implementation stages to launch, as well as details on the crypto exchange development process.
On the date of publication, Chris MacDonald 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.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
