BHAT Stock Price Increases Over 10% Pre-Market: What You Should Know About The Company

By Amit Chowdhry ● March 12, 2021
  • The stock price of Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) increased by over 10% pre-market. This is what you should know about the company. 

The stock price of Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) – a leading producer, developer and operator of augmented reality interactive entertainment games, toys and educational materials in China – increased by over 10% pre-market. There is no recent direct news or SEC reports from the company that is driving the stock price up.

There is speculation that there is a sympathy play involving Taiwan-based GigaMedia increasing over 40% during pre-market today along with the successful public debut of US-based Roblox this week. 

Last month, Blue Hat Interactive signed a three-year agreement with Zhong Ya (Shenzhen) International Education Investment Co., Ltd. whereby Blue Hat will provide its Augmented Reality Immersive Classes to Zhong Ya’s 680 kindergartens located in Guangdong Province.

On January 29, the company had announced its fourth-quarter financial results. These were the highlights:

– Total revenues increased over 70% to approximately US$20 million, compared to US$11.8 million in the prior-year period – primarily driven by the company’s new Internet Data Center (“IDC”) business. This business saw significant growth following the strategic acquisition of Xunpusen Technology Co., Ltd. (“Xunpusen”) in the second half of 2020.

– The revenues for the period did not include contributions from the recently announced acquisition of 51% of Fuzhou Csfctech Co., Ltd. and its two subsidiaries.

– And the company anticipates releasing its fourth quarter and full-year 2020 financial results later this month.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.