Abaxx Technologies Increases Stake in Base Carbon

Abaxx Technologies Inc ( (TSE:ABXX) ) has issued an announcement.

Abaxx Technologies Inc. has increased its stake in Base Carbon Inc. by acquiring 3,700,000 additional common shares, raising its ownership to 17.7% from 14.32%. This acquisition aligns with Abaxx’s strategic interest in Base and investment purposes, with potential future transactions depending on market conditions and other factors.

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 focused on creating smarter markets through advanced financial technology and market infrastructure, addressing significant challenges like the energy transition. The company is a majority owner of Abaxx Exchange and Abaxx Clearing, which are based in Singapore and provide commodity futures and derivatives for better price discovery and risk management in the transition to a lower-carbon economy.

Average Trading Volume: 193,538

Technical Sentiment Signal: Sell

Current Market Cap: C$61.56M

See more insights into ABXX stock on TipRanks’ Stock Analysis page.