In the past few weeks, Hudson has gained significant momentum. Let’s see the potential in this new year.
We have welcomed 2021 with a lot of hopes and prosperity for everyone. Let’s hope to see everyone; humans, businesses, stocks, and all the stakeholders thriving once again in this new year. How about Hudson Capital Inc. (HUSN)? Here’s what you need to know about HUSN stock.
Hudson Capital stock has gained 22.97% over the past weeks. Since its merger agreement with FreightHub, Inc. (Fr8Hub), things have started to get more interesting for the company. What’s pushing Hudson and how things look going ahead?
Hudson Capital potential advantages with FreightHub Merger deal
On October 15, 2020, Hudson Capital announced that it was entering into a definitive merger agreement with FreightHub, Inc. Fr8Hub’s existing shareholders are to invest $12 million upon the closing of the transaction. The closing of the merger is expected in the first quarter of 2021.
FreightHub is a transportation logistics tech firm based in North America that focuses on US-Mexico cross-border shipping.
Recently, Hudson Capital reported FreightHub’s 3-months and 9-months results for the periods ended Sep. 30, 2020. In the third quarter, Fr8Hub revenues grew by a whopping 138% to $2.7 million from the last year period. While the revenue for the nine months was $5.4 million, up by 84%.
Despite the pandemic impact,Fr8Hub has done remarkably well during 2020. The CEO of the company, Javier Selgas said that they improved their revenues with new product offerings, along with a more specialized salesforce. Selgas added that the quarterly momentum will continue and Q4 will also have robust growth. That’s the reason that they anticipate full-year 2020 revenue to be more than double of 2019’s revenue.
Moreover, earlier in December, Fr8Hub announced that it has enhanced its technology system with the addition of API integration with DI Distribution Center, Inc. (DI).
This will help Fr8Hub to provide flow less integration using a functional API. The collaboration with DI automates the transloading process that will update smartly on the logistics of the company. This progress enables Fr8Hub to evolve in the market and make its impact among the trade partners in the freight transportation market.
Hudson Capital Inc. (HUSN) has maneuvered a very smart move with Fr8Hubmerger deal. This will help the company to benefit from the services of its partner. Also, it will bring in $12 million of investment into the company. The increasing stats and continuing growth of Fr8Hub will also help Hudson stock to evolve in 2021. HUSN stock has strong long-term momentum, so the potential is there as we head forward.