Bit Brother Limited (BTB) stock surged in the after-market. Bit Brother Limited (BTB) stock increased by 57.36% and reached at $4.17 at the current time of this writing. The trading value of the stock traded was 4.12 million. In the previous trading session the stock closed at $2.00.
Why their stock raised after facing huge downfall?
After facing a significant loss in the revenue, the company is trying really hard to regain its strength. Its share price is increasing due to very important reason. The reason is Bit Brother Limited (BTB) is focusing on the aspect to carry out the business in cryptocurrency and blockchain industry. The company’s US subsidiary had recently obtained license of money services business by the name of Bit Brother New York. This license will allow them to perform operations as foreign exchange dealer, money transfer platform and money order seller.
Financial overview of Bit Brother Limited (BTB):
- The earning of Bit Brother Limited (BTB) increased 27.3% per year.
- Their acceleration of growth is currently unable to forecast as for the last 5 years the company is unprofitable.
- Bit Brother Limited (BTB) is right now at the moment unprofitable but they managed to reduce their debts by 27.3%.
- Bit Brother Limited (BTB) has no debt as compared to the previous 5 years. At that time its debt to equity ratio was around 130%.
What next?
To analyze the future growth of Bit Brother Limited (BTB) is quite difficult at the moment because Bit Brother Limited (BTB) has not provided enough information regarding its data to forecast its growth by analyzing its financial data.
Although their stock has been very volatile in the past and that was for the obvious reasons that they were miserably failing to achieve their revenue goals and was losing interest of the investors. But for the past couple of months its stock is rising and the trend is going in upward trajectory.
Conclusion:
Despite of the fact that its stock has been really volatile in the past, this year’s decision of going to enter the money services business in crypto currency and blockchain could bring significant results for the company. This could really turn out to be a game changer for the Bit Brother Limited (BTB) which could be seen in the upcoming year’s financial statements.
