Powerbridge Technologies Co. Ltd. (PBTS) stock receded by 16.13% after hours, following a huge increase of 62.42% on Monday. While the stock gained huge on no recent news from the company, it fell under corrections in the after hours.

During regular trading, the stock fluctuated between 4-.5547 and $1.000, closing at $0.9300 at 16.05 million shares. Soon in the after-hours session, the tides reversed, as the PBTS stock fell down to $0.7800.

Currently, the 45.78 million outstanding shares of the company trade at a market capitalization of $26.21 million. Powerbridge Technologies Co. Ltd. provides software and technology solutions including Blockchain-as-a-Service.

PBTS Recent Movements

On December 27, the PBTS stock saw a huge upsurge as it gained over 62.4% at 176% of its 65-day average volume. While no news from the company seems to have driven the stock, the surge in the crypto market might be responsible. On Monday, the cryptocurrency market saw a positive change as the prices of Bitcoin, Ethereum, Binance coin, and many others saw an increase.

Monday’s increase in the PBTS stock made its five-day gains reach 41.51%, while it has lost 10.58% last month. Hence, the stock fell under corrections in the after-hours on Monday to shed its gains.

Powerstream Supply Chain Launch

On December 20, the company announced the launch of a new, wholly-owned subsidiary, Powerstream Supply Chain Co., Ltd. The new subsidiary was launched for targeting growth opportunities in the supply chain, retail, new media, and e-commerce sectors.

Powerstream creates technology-enabled supply chain financing platforms and ecosystems. It does so by leveraging blockchain and big data through the involvement of enhanced retails, new media, and live streaming s-commerce. Hence, Powerstream creates a new dynamic retail world from the integration of online and offline sales and supply chains.

According to the President of PBTS, Stewart Lor, the cutting-edge technology of Powerstream not only upgrades the value chain of goods but also integrates resources, enhances operational efficiency, and aids revenue growth.

PBTS’s Crypto Mining Expansion

On December 16, PBTS shared its cryptocurrency mining operations expansion plan into North America. Powercrypto Holdings, which is a wholly-owned subsidiary of PBTS, is working on the expansion plan. Moreover, Powercrypto is looking for an environment-friendly facility in Canada with 20,000 BTC and ETH mining rigs capacity. Further, the subsidiary is also in search of eco-friendlier sites in North America and Asia.