Asia Broadband (AABB) Stock Jumps Again: Up 40% in a Week
The crypto sector may have had a pretty shocking time over the past week but companies there are some companies in the sector that did not do too badly in terms of stock performance.
One of those is Asia Broadband Inc (OTCMKTS:AABB). On Monday the stock was on the move and rallied by as much as 12% to take its gains for the past week to 40%. Asia Broadband’s core business is related to the precious metals like gold but the company has made a massive effort to get into the fast growing cryptocurrency space in a big way. The company is now working on its own cryptocurrency exchange after having recently launched its own cryptocurrency.
In this regard, it is important to point out that back in March, the company had launched its own cryptocurrency token named the AABBG token. However, it is also necessary to point out that the AABBG tokens are backed by physical gold belonging to Asia Broadband worth as much as $30 million.
Recently, the company reported that it has made considerable progress in relation to the development of its cryptocurrency platform and that could actually prove to be a major boost for its crypto token as well.
Those who actually purchase the AABBG token are going to have two kinds of advantages. One of those is that it is going to be a pretty stable digital asset considering the fact that each token is backed by 0.1 gram of spot price gold.
On the other hand, the token could also appreciate at price like other cryptocurrencies and thereby give its holders a profit. However, if price appreciation is to happen then the AABBG token also needs to be in circulation in exchanges and that can only happen once the Asia Broadband crypto exchange is in place. The current optimism about the Asia Broadband stock is understandable and investors could consider keeping it in their watch lists at this point.
Is HUMBL (HMBL) Stock About To Recover After The Recent News?
At the turn of the year, the HUMBL Inc (OTCMKTS:HMBL) stock was one of the biggest gainers among penny stocks but it has corrected quite sharply in recent times. However, on Monday, the HUMBL stock moved sharply and ended up making gains of 9.5%.
Could it be the start of another uptrend in the stock? The latest gains made by the stock were triggered by an announcement from the company yesterday. In recent times Non-Fungible Tokens (NFTs) have become hugely popular and HUMBL announced the launch of its own NFT named Gallery yesterday. It is a significant new step from the company and one which sparked optimism among investors too.
The NFTs will be made available to interested customers on the website HUMBLpay.com. The gallery is going to allow content developers to create their own NFTs to protect their interests and consumers will be able to purchase them from the website.
While it is true that HUMBL has been primarily involved with mobile payments, the company has also created a digital assets platform which is meant for blockchain based tokenization. The tokenization is aimed at real world use cases like ticketing, financial services, payments and NFTs among others.
The new NFT is going to be entirely focussed on artists, content creators and assorted entertainers across a range of fields like fashion, gaming, sports, photography and music among others. The first HUMBL NFT Gallery is going to be made up of a collection of photographs from Jared Raskind and Andrew Small.
Both photographers have been in the business for a long time and over the course of the past decade, the duo has developed collections that are meant for private groups as well as the larger public. It goes without saying that it is an important step for HUMBL and could bring about considerable revenues in the long term.