At the beginning of another trading week, it is usually the time for investors to look into stocks that might have performed well on the previous Friday and by that principle, one of the stocks that could be tracked is that of Greenpro Capital Corp (NASDAQ:GRNQ).
The Greenpro stock soared by as much as 16% this past Friday as investors piled on to it following a key announcement from the company. The company revealed that its unit Angkasa-X inked a Memorandum of Understanding with the company Silkwave Holdings with regards to the formation of a joint venture.
The joint venture partnership is going to be involved with the development of a GEO-LEO satellite network and services platform. In addition to that, it is also necessary for investors to note that this partnership is also going to help in the development of a space technology ecosystem in the city of Penang in Malaysia.
It is also expected to help with the creation of a distribution centre and a supply chain for the purpose of serving the space technology industry in the emerging ASEAN market. It now remains to be seen if the Greenpro stock can manage to add to its gains this week or not.