TROOPS, Inc. Shares Soar 106.15% on Asia Expansion

TROOPS, Inc. (TROO) shares surged 106.15% today, reaching their highest level since December 2024, with an intraday gain of 303.08%.

The strategy of buying TROO shares after they reach a recent high and selling after one week resulted in a 2.86% return, vastly outperforming the benchmark, which returned -100.00%. Despite this, the strategy had a maximum drawdown of 0.00% and a Sharpe ratio of 0.01, indicating a low-risk approach with minimal losses during market downturns.

TROOPS, Inc. has announced a Letter of Intent to acquire a 49% stake in WORK, Inc., a Taiwan-based co-working space operator. This strategic move is part of TROOPS' broader plan to expand into the Asian flexible workspace sector. The acquisition includes a put option for TROOPS to purchase the remaining 51% stake in the future, with the consideration to be in the form of convertible notes tied to TROOPS shares. Additionally, TROOPS is planning to develop a 7,000 sq. ft. co-working facility in Hong Kong, further solidifying its presence in the region.

This acquisition is seen as a significant step for TROOPS in its efforts to diversify its portfolio and tap into the growing demand for flexible workspaces in Asia. The move is expected to enhance TROOPS' market position and drive future growth, as the company continues to explore new opportunities in the region. The announcement has generated considerable interest among investors, who are optimistic about the potential benefits of this strategic expansion.