Greenpro Capital Corp (NASDAQ:GRNQ) Stock Crosses $1 Mark On High Volume

Greenpro Capital Corp (NASDAQ:GRNQ), based in Hong Kong provides financial and corporate services as well as investment planning to small and medium-sized businesses in Malaysia, Hong Kong, and China.

The company’s Angkasa-Z made a strategic partnership with Silkwave Holdings for developing the world’s first GEO-LEO integrated satellite network. This enthuses investors about the space technology ecosystem and a new era of digital transformation in ASEAN, but the company stocks have plummeted by 13% in one month and almost 63% during the year.

The firm’s current valuation is not in line with its rising expenses as well as huge losses. The company had come out with details of investment in 7,700 exclusive series of NFTs in May and paid $16 million for it.

The company is focused on blockchain investment, which it believes can ameliorate its profitability as well as create shareholder value. However, uncertainties in the NFT market, as well as volatility, are concerning.

Green Pro’s total revenues augmented 97.4% year-over-year to $792,025 in quarter two, ending June 30, 2021, but it witnessed operating expenses also surge by 38.3% from its value a year ago to $1.18 million. The firm also came out with a loss of $773,821, which was 37.7% higher than the year-ago value.

The firm has a 0.15% trailing 12-month asset turnover ratio of 24.1%, which is lower than the industry average. Furthermore, its Return on Equity as well as Return on Assets was negative 81.5% and 39.2%, respectively.