Hudson Capital Inc (HUSN) stock was facing negativity on Wednesday, April 14, 2021, and went down a bit 0.78% only in the early morning session but it gained 7.42% in the pre-market session after the company made an announcement.
Let’s discuss the recent developments
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Preliminary Q1, 2021 financial updates
On April 13, 2021, Freight Hub, Inc announced preliminary first quarter 2021 revenue of $4.8 million, a quarterly record for the company and an increase of 216% over the first quarter of 2020.
Hudson Capital has signed a definitive Merger Agreement with FreightHub, Inc.
CEO of Fr8HubJavier Selgas said that their momentum continues to build, as demonstrated by the year-over-year increase of 216% for our preliminary first-quarter revenue. He further said that the company has started 2021 off strong, with enhancements to our technology platform and increased sales force driving the record sales for the first quarter of 2021, and the launch of our Fr8Hub University.
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 fulfill the systemic needs of brokers and forwarders.
Load Board 2.0 availability
On March 11, 2021, Hudson Capital signed a definitive merger agreement with Fr8Hub for the availability of Load Board 2.0 for carriers that ship cross-border or to/from the border anywhere in the US, Mexico, or Canada.
Commencing of Fr8Hub University
On February 25, 2021, Hudson Capital has signed a definitive merger agreement to commence the inaugural class of its Fr8Hub University starting the week of February 22, 2021, at the recently expanded headquarters in Monterrey, Mexico. Fr8Hub University will provide a six-week program consists of classroom and on-the-job training. Designed around an extensive list of topics.
Launching new Technologies
On February 10, 2021, both companies signed a definitive merger agreement to launch new technologies and functionalities on their platform and starting of digitization projects.
Hudson Capital Inc. Incorporated in 2014 and it was formally known as China Internet Nationwide Financial Services Inc. the HUSN provides financial advisory services to small and medium-size business and companies, including payment advisory, intermediary bank loan advisory and international corporate financing advisory.
The exceptional revenue growth announcement was the reason behind its turnaround on Wednesday. We can expect more surging in the coming days.