AABB TRADE ALERT - PPS Moving Back Up After 50% Retrace On 400% Gain - Anticipated News Trigger To Catapult $0.03 PPS To $0.10
January 29 2019 - 12:16PM
InvestorsHub NewsWire
New York, NY – January 29, 2019 –
InvestorsHub NewsWire -- Asia Broadband Inc. (USOTC: AABB) is
steadily moving back up to breakthrough its $0.034 200 moving
average after investors took profits on a recent 400% gain to
$0.04. After reaching just over $0.04, the PPS retraced 50%
back to $0.02 and is now on the move back up again. It could
be a good time to get back in with the technical support that can
come from breaking the approaching $0.034 200 moving average mark
and the anticipated news expected to trigger a run that could take
the PPS back to its $0.10 52-week high if not
beyond.
With a transition over the last year into
mining as the company’s now current primary business focus, AABB
has posted a 1000% increase in gross profit through the third
quarter of 2018 reporting almost $3 million in gross profit
compared to $277,000 in gross profit for the entire previous
year. The company is also reporting nearly $2 million in cash
on its balance sheet. While the company was still going
unnoticed on October 24, 2018, it signed a $34 million joint
venture agreement that included an initial $5 million
payment. The financial benefit of the agreement will become
apparent when the company publishes its 2018 annual report.
AABB is trading between $0.02 and $0.04 on much higher than its
twelve-month average trading volume. The PPS has a 52-week
high of $0.10 and once the annual report is filed adding the
benefit of the $34 million joint venture to the organic $3 million
in gross profit and $2 million in cash from operations already
reported, the PPS is likely to rocket back to its $0.10 52-week
high and beyond.
About Asia Broadband Inc. - through its
wholly owned subsidiary Asia Metals Inc., is a resource company
focused on the production, supply and sale of precious and base
metals, primarily to Asian markets. The Company utilizes its
specific geographic expertise, experience and extensive industry
contacts to facilitate its innovative distribution process from the
production and supply of precious and base metals in Guerrero,
Mexico, to our client sales networks in Asia. This vertical
integration approach to sales transactions is the unique strength
of Asia Broadband and differentiates the Company to its
shareholders.
NextBigTicker also follows Lithium
Exploration Group, (LEXG), Kali-Extracts, (KALY) and Generex
Biotechnology, (GNBT).
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