Shares of Color Star Technology Co., Ltd. (CSCW) stock were rising in the pre-market trading session on 14 April 2021. CSCW price saw a push of 5.47% to reach $1.35 a share as of this writing. It seems that CSCW captivated the attention of investors after announcing a strategic cooperation agreement with Supre NFT. CSCW stock was gloomy in the previous trading session as it closed with an 11.72% drop. Let’s try to understand the reason behind this bull.
What’s happening?
Color Star Technology Co., Ltd. (CSCW) is an offline and online music education provider in the U.S and China. The purpose of the recently announced strategic cooperation agreement between CSCW and Supre NFT is to collaborate with each other in the future development of Non-Fungible Tokens. This agreement will help both companies in brand awareness and market expansion as well as community building. By using the advanced NFT technology of Supre NFT, CSCW stock plans to provide more access to copyright and its video content to the users through digital encryption.CSCW stock is expected to launch more NFT products in the future.
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The CEO Viewpoint:
CEO of Color Star stock showed excitement related to the recent agreement of CSCW stock with Super NFT and said that this agreement would establish deeper cooperation between both parties in the development of NFT products. CEO exaggerated that CSCW stock believes in long-term growth and that’s why looking forward to the development of NFT products with the intention of providing high-quality entertainment content to the global users and generating high returns for the original authors.
Previous News of CSCW stock:
On April 12, 2021, CSCW stock received the compliance letter from NASDAQ Listing Qualifications Staff according to which Color Star regained compliance with NASDAQ’s minimum bid price requirement. The closing price of CSCW stock had been greater or equal to $1.00 per share from March 18, 2021, through April 6, 2021, which resulted in the regained compliance of CSCW stock with Listing Rule 5550(a)(2).
Conclusion:
Things are going well for CSCW stock as far as market sentiment is concerned but no one exactly knows the future of the stock market as it is very unpredictable sometimes. Color Star’s management is focused on long-term development and looking forward to launching more NFT products in the future. In a nutshell, CSCW stock can be a good bet for investors in the long run.
