Cleantech Solutions International, Inc. common stock (NASDAQ: CLNT) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has entered into an exclusivity agreement and is in talks with regard to a potential acquisition. Of course, this is leading to excitement among investors, sending the stock toward the top. Before we get into the details, we’d like to send a quick thank you to our friends at Trade Ideas for being the first to alert us to the gains. Currently (10:07), CLNT is trading at $6.85 per share after a gain of $3.53 per share or 106.33% thus far today.
CLNT Gains On Exclusivity Agreement And Potential Acquisition
As mentioned above, Cleantech Solutions is having an incredibly strong start to the trading session this morning after announcing that Sharing Economy Investment Limited has entered into an exclusivity agreement with Inspirit Studio. The agreement surrounds the potential acquisition of a minimum of 51% stake in Inspirit Studio by SEI.
Inspirit Studieo is a wholly-owned subsidiary of CLNT that runs a sharing economy mobile platform known as Anyway. The platform allows consumers to provide courier delivery services during their commute times, whether it be to and from work or simply running errands. The system connects senders and freelance couriers who are willing to deliver packages and letters for senders in return for earnings income. The solution is both low cost and fast. In a statement, Kurt Tam, CEO at In Spirit Studio, had the following to offer with regard to the news surrounding CLNT:
“Anyway resolves problems that the current courier services have… With Anyway, senders can get speedy responses to contact with our freelance couriers who are in close proximity to the senders. There is no limitation on service area and business hours. With a five-month pilot program in Hong Kong, we have signed up over 2,000 freelance couriers, with over successful 6,000 transactions.”
The statement above was followed up by Parkson Yip, COO at Cleantech Solutions. Here’s what he had to offer:
“Anyway is a true sharing solution that can also bridge with many sharing economy platforms that we are developing… We are excited to work with Anyway to further fine tune their solution and integrate with other sharing economy platforms. Peer-to-peer courier services can play a big role in communities where we often want helpers to run errands, or simply bring items from home to other locations, without taking the extra time out of our schedules. We look forward to making peer-to-peer courier services available globally.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CLNT. In particular, we’re interested in following the exclusivity agreement to see if an acquisition is indeed the result. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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