- The stock price of Hudson Capital Inc. (NASDAQ: HUSN) increased by over 10% pre-market today. This is why it happened.
The stock price of Hudson Capital Inc. (NASDAQ: HUSN) increased by over 10% pre-market today. Investors are responding positively to Hudson Capital announcing that Freight App (Fr8App), 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, providing its full-year 2021 revenue guidance and company updates.
Select Accomplishments Year-to-date through November 2021
— Grew loads carried to almost 25,000, up from approximately 9,200 for 2020.
— Increased average miles traveled by servicing more direct shipments to approximately 2,300 from approximately 1,500 in 2020.
— Increased lanes operated by 500% year over year.
— Tripled shipper client count to 395, up from 130 at the end of 2020.
— Broadened the industries served, which now include consumer goods, packaging, automotive, raw materials, manufacturing, and logistics.
— Renewed agreements with all top shipper clients.
— Expanded the carrier partner base to over 2,400 from 1,700 at the end of 2020.
— Launched numerous major new product offerings: broker portal, Carta Porte compliance with cross-border reporting requirements, EDI interfaces v1.0 and v2.0, internal pricing tool, offer manager, and automated onboarding.
— Formed six collaboration agreements with key players in the logistics industry yielding integrations, including RC Control, P4
“2021 has been a successful year of transformation, including our numerous transportation logistics innovations, which deliver compelling value adds for both of our shipper clients and carrier partners.”
“In the fourth quarter of 2021, the logistics market began to improve, overcoming a very challenging environment including the adverse effects of COVID 19, commercial truck driver shortages, diesel price shocks, and a severely constrained commercial logistics chain throughout North America. Building upon our revenue for the first nine months of 2021 of $16.2 million, we expect full-year 2021 revenue to grow to between $22 million and $23 million, which represents an increase of at least 140% over 2020. We anticipate becoming part of a publicly-traded company in 2022, which we expect will provide us with additional organic and inorganic opportunities. We are proud of our numerous achievements that position us to grow and drive shareholder value in 2022 and beyond.”
— Javier Selgas, CEO of Fr8Hub
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.