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Abaxx Technologies Inc ( (TSE:ABXX) ) has shared an announcement.
Abaxx Technologies Inc. announced a strategic collaboration between its Abaxx Exchange and Qingdao International Energy Exchange to enhance the physical liquefied natural gas (LNG) market. This partnership aims to integrate physical LNG market mechanisms, develop transparent price benchmarks, and offer innovative risk management solutions, thereby strengthening Asia’s LNG marketplace and supporting the global transition to cleaner energy. The collaboration is expected to enhance connectivity between China’s energy market and international participants, promoting sustainable energy solutions and efficient cross-border trade.
Spark’s Take on TSE:ABXX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ABXX is a Neutral.
Abaxx Technologies Inc. has strong revenue growth and a solid balance sheet, but it remains unprofitable with negative cash flow, significantly impacting its financial performance score. Technical analysis points to a stable stock price without significant upward momentum. Valuation metrics are poor due to negative profitability. However, strategic corporate events positively influence the overall score by enhancing financial stability and market potential.
To see Spark’s full report on TSE:ABXX stock, click here.
More about Abaxx Technologies Inc
Abaxx Technologies Inc. is a financial software and market infrastructure company that focuses on developing and deploying technologies to facilitate communication, trade, and transactions. The company is the majority shareholder of Abaxx Singapore, which owns Abaxx Exchange and Abaxx Clearing. Abaxx is known for its efforts in creating Smarter Markets, which aim to address societal challenges like the energy transition through better tools, benchmarks, and technology. The company offers market infrastructure for centrally-cleared, physically-deliverable futures contracts in various commodities, including LNG, carbon, battery materials, and precious metals.
Average Trading Volume: 193,538
Technical Sentiment Signal: Buy
Current Market Cap: C$61.56M
See more insights into ABXX stock on TipRanks’ Stock Analysis page.