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Powerbridge Technologies Co. Ltd. (PBTS) Stock Declining in Aftermarket, Here’s What you Should Know

Powerbridge Technologies Co. Ltd. (PBTS) is a software application and technology driven company primarily focusing on the areas of trade enterprise and trade compliance and trade logistics. The company is also involved in SaaS solutions and Blockchain applications. The company’s serves different trade companies and producers, government agencies and others.

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The price of PBTS stock during the regular trading on December 28, 2021 was $0.69 with a significant decline of 25.45%. At last check in the aftermarket, the stock was further down by 7.69%.

PBTS: Events and Happenings

On December 20, 2021, PBTS reported about the establishment of a new fully-owned subsidiary, ‘Powerstream Supply Chain’, targeting new growth prospects in supply chain, retail segment, new media and e-commerce.

PBTS: President Comments

On the occasion of establishment of the subsidiary, the president of PBTS Stewart Lor told that the company’s recent achievement is due to integration of big data, blockchain, and fintech services in the retail sector. he was optimistic that the company’s revenue contribution will reach $100 million in coming two years.

On December 16, 2021, PBTS reported that its wholly owned subsidiary planned to expand its crypto mining venture to Canada. The company bided for a facility in the North American country with the capability to host approximately 20,000 BTC and ETH mining rigs.  The cryptocurrency operation was driven by a sustainable and green energy supply.

On October 8, 2021, PBTS reported that its wholly-owned subsidiary launched cryptocurrency mining, more specifically bitcoin (BTC) and ethereum (ETH), in the Hong Kong. The company planned to deploy 2,600 high-performance mining rigs in Hong Kong.

On September 24, 2021, PBTS reported that it had established Powercrypto Holdings, its new subsidiary for its Crypto Mining and Digital Asset business. On September 13, 2021, PBTS reported about completion of design of the technology infrastructure of its Blockchain Supply Chain Traceability program. The program was at the multi-consumer industry applications expansion stage.

On September 1, 2021, PBTS reported about the availability of FXOS. It is AI integrated operating system used in the mining of ETH and other cryptocurrencies. It can increase ETH mining efficiency by 15%.

Conclusion

PBTS stock is continuously on a declining verge from the past month and a drop of notable 29% was observed as compared to last month. The reason of this trend is uncertainty in the market position of the company or possibly some other un-clear factors. The analysts are suggesting that the company should re-structure its policies and thus it will attract the potential investors.

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