Although the AB International Group Corp (OTCMKTS:ABQQ) stock was trading within a range on Monday, it remains a company that could be of interest to investors. Moreover, stocks that trade in a range can often break out as well, and hence, it may be a good idea to consider taking a closer look into it at this point. In order to get a better idea, it is first important to take a look at the nature of the company first.
On Monday, ABQQ stock ended flat at $0.0065 with 3.25 million shares, compared to its average volume of 4.66 million shares. The stock moved within a range of $0.0060 – 0.0069 after opening trade at $0.0063.
About AB International Group
AB International Group is primarily involved in intellectual property, film investment, and licensing. It is also involved in acquiring and developing a wide range of intellectual property. It acquires films and distributes them as well. Last but certainly not the least AB International Group has also engaged a video streaming service in order to get into another highly lucrative industry.
Financial Results for the Six Months Ended February 28, 2022
As it happens, the company was in the news yesterday after it announced its financial results for the six-month period that had ended on February 28, 2022. It may be a good move for investors to take a look at some of the highlights of the financial results.
The company managed to generate revenues to the tune of as much as $1800000 for the period, which reflected a year-on-year jump of a whopping 1072% from the revenues of $153,600 in the prior-year period. On the other hand, the gross profits that were generated by the company during the period came in at $426,866 and that was a major turnaround from the prior-year period when AB International Group had actually made a loss of $301,327.
The net loss for the six-month period stood at $602,944 and that reflected a decline from the net loss of $1,521,663 in the prior-year period. However, in the three-month period that ended on February 28, 2022,
AB International Group had actually turned a profit of $449,101. In the comparable period last year, the company had made a loss of $996,209. It will be interesting to see if the stock does come into focus over the course of the week or not.
ABQQ stock is trading below the 20-Day and 50-Day Moving averages of $0.0089 and $0.0088 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0212.