Powerbridge Technologies Co., Ltd. (PBTS) Stock Bouncing Back After Declining on Wednesday, Here’s Why

Powerbridge Technologies Co., Ltd. (PBTS), a software application and technology solutions provider, closed Tuesday’s regular trading session at $0.38 after slumping 4.62% during the day. In the premarket trading session, PBTS stock has bounced back as it was trading at $0.30 after increasing 4.39% when last checked. The stock started to gain following the announcement of an accolade for a product of the company.

Powerbridge Smart Monitoring Platform; Zhuhai City Innovative Product

On Wednesday, PBTS announced that its Smart Monitoring Platform was selected to be a premier choice for the trade ports, border trade zones, bonded warehouses, and international courier centres by the Science and Technology Innovation Bureau of Zhuhai City, China. The Smart Monitoring Platform has the most updated technologically innovative products, most prominent among them being Beidou Navigation System, IoT, AI etc. All of these products aid in smart monitoring and control.

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PBTS Contracts with Leading Enterprises

On the 9th of March, PBTS announced it had signed a series of contracts with leading enterprises belonging to different domains. They include rail transit of China, courier service as well as those related to smartphones. The contracts total an amount of approximately $5 million. As per the contracts, Powerbridge has agreed to provide digital transformation solutions to these enterprises.

Partnership to Establish Metafusion

Early in February, PBTS reported that it was entering into a partnership with Powermeta Digital Co., Ltd., its wholly-owned subsidiary, and Beyondvision Cultural Development Co., Ltd. to jointly establish the Metafusion Digital Co., Ltd. The platform is being developed with a vision of embracing the metaverse into the virtual world of leisure and travel. The company said that the Metafusion platform would apply a set of the metaverse and NFT related technologies to alter the services provided by the leisure and travel industry as well as improve the customer experience.

What’s Next for PBTS?

Looking ahead, analysts are of the view that even though PBTS stock holds several positive signals, they are not enough for it to be considered a buy candidate. Hence, at the current level, the investors should opt for holding the stock while waiting for future development.

 

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