Hudson Capital Inc. (HUSN) shares surged 4.68% in after-hours on Friday, June 18, 2021, and closed the week at $3.80 per share. Earlier, HUSN’s stock lost 6.68% in the after-hours on Friday’s session and close the session at $3.63. HUSN shares have fallen 38.47% over the last 12 months, and they have moved up 7.08% in the past week. Over the past three months, the stock has gained 0.55%, while over the past six months, it has shed 24.74%.
Completion of Google Cloud Integration
On June 17, 2021, Hudson Capital Inc announced that FreightHub, Inc. (Fr8Hub), with which Hudson Capital has signed a definitive Merger Agreement, completed its Google Cloud integration, enhancing its big data analytics capabilities, strengthening its data security, and increasing its operational efficiency.
Technology collaboration with RC Control
On June 02, 2021, Hudson Capital Inc announced that FreightHub, Inc. (Fr8Hub with which Hudson Capital has signed a definitive Merger Agreement, is collaborating with RC Control to help alleviate one of the biggest challenges with US-Mexico cross border freight: seamless visibility.
Recent financial results
On May 18, 2021, FreightHub, Inc(Fr8Hub) with which Hudson Capital has signed a definitive Merger Agreement, reported its financial results for the three months ended March 31, 2021, in Hudson Capital’s amended Registration Statement on Form S-4 filed on May 18, 2021, with the SEC.
Q1 2021 financial highlights
- FreightHub reported revenue of $4.8 million for the first quarter of 2021compared to $1.5 million in the prior-year period.
- The company had record sales of $4.8 million during Q1 2021.
Non-compliance notice from Nasdaq
Hudson Capital Inc received written notification on May 13, 2021, from The Nasdaq Stock Market LLC that it no longer meets Listing Rule 5550(b)(1).
According to the Nasdaq rule, Hudson Capital had to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. The Company reported in its last annual report Form 20-F for the period ended December 31, 2021, that its stockholders’ equity was $631,145.
The exceptional increase in FreightHub’s customer base
On April 30, 2021, FreightHub, Inc reported that its expanded customer base has resulted in Fr8Hub delivering more than 15,000 loads since its inception in 2015.
Fr8Hub customers grew 155% from 130 in October 2020 to more than 330 in April 2021, including one of the world’s largest snack and food manufacturers and one of North America’s largest retailers.
New Broker Portal
On March 25, 2021, HUSN announced a merger agreement with FreightHub to launch its new Broker Portal. The new Broker Portal is which is now available to freight forwarders and brokers in the domestic and US-Mexico cross-border shipping markets. The CEO of Fr8Hub Javier Selgas said that Broker Portal will fulfil the systemic needs of brokers and forwarders.
Conclusion
The completion of Google could integration may or may not be the reason behind its turnaround on Friday. we hope that HUSN will commence the new week with the same positivity.
