Asia Broadband Inc (OTCMKTS:AABB) Stock Gains Momentum: Here is Why

If you are looking for stocks this morning which may have gained momentum recently, then it may be a good move to consider taking a look at Asia Broadband Inc (OTCMKTS:AABB). It may be a good idea to take a look at the announcement that was made by the company last week on September 7.

Trading Data

On Friday, AABB stock soared 6.17% to $0.0602 with more than 7.83 million shares, compared to volume of 10.85 million shares. The stock moved within a range of $0.0561 – 0.0640 after opening trade at $0.0573.

Asia Broadband Launches Proprietary Cryptocurrency Payment Gateway Solution

The company announced at the time that it had been successful in launching, its proprietary crypto payment processing solutions. It was a significant new announcement from Asia Broadband and one that may have brought the company’s stock on to focus among investors.

While it has already been launched, the company also noted that the solutions is going to be monitored, expanded and even modified in collaboration with the developer. The aim of the exercise is to ensure that the product’s functionalities and stability are consistent. The product is, in essence, a cryptocurrency payment gateway. Anyone who uses PayABBB is going to be able to accept payments in as many as 400 different cryptocurrencies.

The product also offers significant security and anonymity, which are highly sought after by many customers. It could be a good idea to keep an eye on the stock today.

Technical Data

AABB stock is below the 20-Day and 50-Day Moving averages of $0.0600 and $0.0615 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1008. The stock is down 33% over the past 6-month.