Hudson Capital (HUSN) Stock: Over 5% Increase Pre-Market Explanation

By Amit Chowdhry ● May 19, 2021
  • The stock price of Hudson Capital Inc. (NASDAQ: HUSN) increased by over 5% pre-market. This is why it happened.

The stock price of Hudson Capital Inc. (NASDAQ: HUSN) increased by over 5% pre-market. Investors are responding positively to Hudson Capital announcing that FreightHub (Fr8Hub) — a North American transportation logistics technology platform company focused on US-Mexico cross-border shipping with which Hudson Capital has signed a definitive Merger Agreement — releasing its financial results for the three-month period ended March 31, 2021.

“First quarter of 2021 sales of $4.8 million were a record for our company, driven by our significantly expanded customer base that now includes Fortune 500 customers, new product offerings sold by a salesforce that is benefitting from industry-leading training at our Fr8Hub University, and a technology platform that continues to evolve and lead on the cutting edge. Our momentum continued in April, putting us on solid footing for a record first half,” said Javier Selgas, CEO of Fr8Hub.

The $4.8 million revenue figure is up 216% compared to $1.5 million in the prior-year period.

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