24/7 Market News Snapshot 03 December, 2024 – Cheetah Net Supply Chain Service Inc. Class A Common Stock (NASDAQ:CTNT)

December 3, 2024

DENVER, Colo., 03 December, 2024 (247marketnews.com) – (NASDAQ:CTNT) are discussed in this article.
Cheetah Net Supply Chain Service Inc. is currently experiencing heightened investor interest, with its shares trading at $2.732, reflecting a dramatic 46.1% increase from the previous close of $1.870. The trading volume during this pre-market session reached 1.04 million shares, indicating a strong bullish trend in the stock. This surge suggests a positive market sentiment surrounding Cheetah, which could indicate ongoing growth opportunities within the competitive supply chain sector.

In a strategic move to bolster its operational capabilities, Cheetah has finalized agreements for the acquisition of TW & EW Services Inc., a recognized provider of labor and logistics services. The acquisition, valued at a total investment of $1 million, includes a cash component of $200,000 along with $800,000 allocated for the issuance of unregistered Class A common stock. The transaction is projected to close by December 4, 2024, and will see TW & EW fully integrated as a wholly owned subsidiary.

Tony Liu, the Chairman and CEO of Cheetah, emphasized the positive implications of this acquisition, outlining the potential for streamlined operations and improved service offerings. He stated, “With the agreements now executed, we are eager to close the acquisition and integrate TW & EW’s operations.” This development underscores Cheetah’s commitment to enhancing its position in the logistics sector and delivering superior value to its stakeholders.

Since its establishment in 2016, Cheetah has evolved significantly, transitioning from a dealer of luxury parallel-import vehicles to a key player in the logistics and warehousing industry. The Company now focuses on transporting a diverse range of goods between the U.S. and global markets. The acquisition of TW & EW Services Inc. represents a pivotal step in Cheetah’s strategy to innovate and expand its service delivery in a rapidly evolving marketplace.

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