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An announcement from HK Asia Holdings Limited ( (HK:1723) ) is now available.
Moon Inc. has announced a further acquisition of approximately 7 units of Bitcoin for around HK$4,712,000, funded by the Group’s available cash reserves. This move is part of the Group’s strategy to diversify its investment portfolio and align with the evolving global financial landscape, as cryptocurrencies gain popularity. The Board sees Bitcoin as a dependable store of value amid global economic uncertainties and aims to enhance shareholder value by embracing technological evolution and preparing for entry into the blockchain industry.
The most recent analyst rating on (HK:1723) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on HK Asia Holdings Limited stock, see the HK:1723 Stock Forecast page.
More about HK Asia Holdings Limited
The Group is primarily involved in the wholesale and retail sales of pre-paid products such as SIM cards and top-up vouchers in Hong Kong, catering to mobile users requiring local and international phone call and mobile data services. Given the market saturation in Hong Kong, the Company plans to expand its distribution beyond Hong Kong and leverage its expertise in digital assets.
Average Trading Volume: 1,205,308
Technical Sentiment Signal: Hold
Current Market Cap: HK$923.1M
For a thorough assessment of 1723 stock, go to TipRanks’ Stock Analysis page.