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Hudson Capital Stock Jumps As FreightHub Expects Record 2020 Revenue

Sam Boughedda trader
Updated 22 Dec 2020

Practice Stock Trading

Chinese finance company Hudson Capital (NASDAQ: HUSN) has seen its shares soar ahead of the opening bell on Tuesday after it said that FreigtHub expects to report record revenue growth for December.

Hudson Capital signed a merger agreement with FreightHub earlier this year with Hudson filing a registration statement on Form S-4 in November.

FreightHub is a North American transportation logistics technology platform company that focuses on US-Mexico cross border shipping.

FreightHub said the record December revenue has been driven by increased market traction and it means that the company’s 2020 revenue will more than double that of 2019.

“Increased market traction is driving growth, and we expect to report record monthly revenue for the month of December 2020. With this performance, 2020 revenue will more than double that reported for 2019,” said Javier Selgas, FreightHub’s CEO.

“To support our growth, we have expanded our development team. With technology, innovation and service as our principal assets, we will continue to broaden our offering and our industry trade partners,” Selgas added.

Hudson Capital shares are currently up by 45.12% premarket at $4.31.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.