Why Cheetah Net Stock Jumped Today: CTNT Deal, Heavy Volume and Dilution Risk
Cheetah Net Supply Chain Service Inc. shares surged Friday, trading over 2.09 billion shares after the company agreed to buy Hong Kong-based Super International Trading Limited for $4.98 million in cash. The stock rose to $0.0547, up 2.16 cents. The deal includes a $10 million annual revenue commitment from the target. Cheetah recently set up a $70 million at-the-market stock sale program.