Film investment, licensing and intellectual property firm AB International Group Corp (OTCMKTS:ABQQ) has seen its stock emerge as one of the major movers over the course of the past week.
The trend strengthened yesterday as the stock clocked gains of as much as 18% to take the gains over the past week to 30%. That being said, investors need to note that there has been no news at all about the company over the past week and the rally in the stock might appear speculative to many investors.
Film “Our Treasures” Hits USD 1 Million Box Office
However, back on August 23, the company did announce that the box office report from the China Movie Data Info Network revealed that its movie titled ‘Out Treasures’ clocked collections of as much as RMB 6.5 million in the 23 days since it had been screened in theatres from August 1, 2021.
That was a significant development for the company. At the time of the announcement, the film was still being screened at theatres. In addition to that, AB International Group also noted that it had reached an agreement with distributors by way of which the film was going to continue to be screened at theatres.