Sometimes even fairly positive news about a company can have an adverse effect on the stock and that is what seemed to have transpired with regards to the Powerbridge Technologies Co Ltd (NASDAQ: PBTS) stock on Monday. Powerbridge is involved in the worldwide trade software application and technology services space.
Yesterday, the company announced that it signed a Strategic Cooperation Agreement with the Chinese behemoth Huawei. By way of this agreement, the two companies are going to promote their unique services to customs and ports in China.
It is a significant deal for Powerbridge since it opens up one of the world’s biggest markets for the company’s services. However, the news did not bring any joy to the Powerbridge stock. The stock actually declined by as low as 15% on the back of the announcement. In this regard, it might be said that the worldwide reputation of Huawei has taken a beating after the company had been involved in a raft of controversies in recent years.
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Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life