This morning investors are highly likely to be tracking the fortunes of the Greenpro Capital Corp (NASDAQ:GRNQ) stock in light of the massive gains it recorded on Monday.
Market Reaction:
On Monday, GRNQ stock skyrocketed 73% to $1.47 with more than 249.77 million shares, compared to its average volume of 11.81 million shares. The stock has moved within a range of $1.2800 – 2.3500 after opening the trade at $2.18.
Big News Out
Yesterday, the Greenpro Capital stock was in the middle of a rollicking rally and ended the day with gains of as much as 73% as investors piled on to it in a big way. The company announced yesterday that Angkasa-X, a company that it had incubated, was successful in gaining admission in the capacity of an ITU-R member. More importantly, it was also announced that Angkasa-X was also in the process of submitting the applications related to its Low Earth Orbit satellites.
On the other hand, becoming a member of the ITU is a significant development for Angkasa-X as well since it is an organisation that is under the United Nations and is responsible for managing space telecommunications.
The news came as a source of significant optimism for investors and resulted in the remarkable rally in the Greenpro stock. At this point in time, it might be a good idea for investors to track all the developments with regards to Angkasa-X in the coming days and weeks.
