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Thursday, May 19, 2022

Sale of Chinese Assets: Hudson Capital Inc. (HUSN) Stock Rocketing Higher Premarket.

Hudson Capital Inc. (HUSN) began its business as a provider of financial advisory solutions to small and medium companies. The conventional business sectors include transitional bank loan advisory, commercial payment advisory, and global corporate financing advisory solutions.


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HUSN’s stock price during the regular trading of March 31, 2022, was $1.93 with a decrease of 8.96%. Its price outshined as of the writing in the premarket session of April 1, 2022, by 26.4%.

HUSN: Events and Happenings

On April 01, 2022, HUSN reported that the company sold its wholly-owned subsidiary, Hong Kong Internet Financial Services, to private investors. On March 21, 2022, HUSN’s wholly-owned subsidiary Freight App, Inc., updated on launching tech-based services, Fr8PrivateFleet, which had previously secured its clients, including Mexico’s largest food producers.

On February 15, 2022, HUSN announced a 100% acquisition of Freight App, Inc. as its wholly-owned subsidiary with effect from February 14, 2022. The company appointed Fr8App’s management to replace its retiring board, CEO, and CFO.

On February 07, 2022, HUSN reported its wholly-owned subsidiary Freight App, Inc. launched a technology-based solution for committed capacity planning known as Fr8PrivateFleet and secured its preliminary agreement with Kimberly Clark de Mexico, S.A.B. de C.V. Kimberly is a Mexican stock exchange registered company with FY21 revenues of approximately 46.9 billion pesos, or up to $2.3 billion.

On February 03, 2022, HUSN informed about its wholly-owned subsidiary Freight App, Inc.’s entry into strategic cooperation with Zaro Transportation. Zaro intends to utilize Fr8App’s AI and EDI technology to enable truck freight services delivery to US-based accounts.

Conclusion

HUSN’s stock price dipped 72% in the last year. Its price rocketed higher in Friday’s premarket session as the company sold its Chinese subsidiary Hong Kong Internet Financial Services to certain investors foreseeing its US operations more diligently. The company’s official website did not reported any latest quarterly, half-yearly, or annual report

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