Asia Broadband (AABB) Stock Pulls Back 40% From The Peak: A Good Opportunity?
The Asia Broadband Inc (OTCMKTS:AABB) stock has been in considerable focus among investors for most of the year and the stock has garnered strong gains as well. Although the Asia Broadband stock is still up by as much as 133% so far in 2021, it has corrected sharply and declined by 40% from its May-end high of 24 cents a share.
However, the latest correction might also prove to be an opportunity for new investors and hence, it could be a good move to take a look at recent developments. The company has moved into the crypto space recently with the launch of its gold-backed AABBG token.
On Tuesday, Asia Broadband announced that it has put plans in motion that is going to see the company expanding its foot print into Central America by pushing demand for its AABBG token. The company is going to start this project at El Salvador.
In order to achieve its objectives, Asia Broadband is going to work with some of the major retailers in the country. The aim is for those retailers in El Salvador to accept payments that are made by customers in AABBG tokens. Retailers are going to be offered handsome discount incentives and commissions if they do start accepting the AABBG token.
While this was an important announcement from the company, there was another key development that took place last month. On May 27, the company announced that the Board of Directors at Asia Broadband and the company’s management approved a move for retiring and returning as many as 107 million units of restricted common shares to the treasury.
The reduction in the number of shares to such a degree could be seen as a welcome move by many shareholders and could also lead to more optimism about the Asia Broadband stock from new investors.
Lightwave Logic (LWLG) Stock Continues to Rally: Up 400% in a Year
It is always a good idea for investors to take an interest in stocks that might have recorded strong gains over a period of several months. That brings us to the subject of the technology platform company Lightwave Logic Inc (OTCMKTS: LWLG) which has seen its stock soar over the course of the year so far.
Over the course of the past month, the stock has managed to deliver gains of as much as 240% and that has taken the gains for the year so far to a staggering 400%. In light of such gains, it could be important for investors to look into some of the recent developments.
The company is involved in using its unique electro optic polymers to send data at a much higher speed but with less power consumption. Earlier on in the month, Lightwave got a significant boost after it was announced that its stock was going to be included in the Solactive EPIC Core Photonics EUR Index NTR.
The addition is going to be made as part of the half-yearly additions. The index is made up of companies that generate at least 66% of their total revenues by way of photonic manufacturing. The addition of the Lightwave stock in a well-regarded photonics company performance benchmarks is a major development.
Back on May 18, the company announced its financial results for the first fiscal quarter and provided investors with some of the key highlights. Lightwave announced that the Polymers Plus platform continued to be aligned with use cases in some of the more important markets in terms of commercialization.
The company went on to add that the markets in question have grown into multibillion-dollar sectors and are going to need high-speed data transmission with low power consumption. It is an important update considering the fact that it indicates that there could be a lot more demand for the products and services offered by Lightwave.