Why Asia Broadband (AABB) Slumped Last Month and Now Recovering?

When a stock starts recovering following a sharp correction, it is perhaps time for investors to start looking into the stock in question a bit more closely.

The Asia Broadband Inc (OTC: AABB) stock was one of the major gainers back in the past weeks and eventually tanked by as low as 75% from its peak. However, the stock is now in recovery mode and this past Friday, it rallied by as high as 14% as investors seemed to flock to Asia Broadband one again.

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Back on February 25, the stock came into sharp focus among investors after the company announced that its board of directors and management approved a dividend payout to shareholders. The dividend in question is meant for restricted common stock and investors are going to get 1 dividend share for one block of 50 shares as of April 5, 2021. The company stated at the time that it wanted to reward its long-standing shareholders for their support and patience.

Jack Dawkins

Finance and Tech Contributor