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BHAT stock is surging in the Pre-market Friday, March 12 but why?

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) is increased by 17.14% in the pre-market session as of this writing but still, there is no news in the market behind its surging price. Let’s have a look at their past recent business activities


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Announcement of Fourth Quarter and Year-end Financial Results:

On January 29 2021 the company announced preliminary unaudited financial results for the fourth quarter ended December 31, 2020. and it is expected that the company is going to announce the date today for the final Q4 results or maybe announcing the results today. That might be the reason behind their surging stock price in the pre-market session.

In their preliminary result announcement, the company said that its total revenues increased more than 70% to approximately $20 million and it does not include contributions from recently acquired 51% shares of Fuzhou Csfctech Co., Ltd and its two subsidiaries.

Recent Business activities:

BHAT announced that the company has closed a registered direct offering with two institutional investors, for the purchase and sale of 7,160,000 of its ordinary shares at $1.06 per share which will result in gross earnings of $7,589,600 before deductions. The net earnings from this offering will be used for general working capital purposes. 

About BHAT

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) is a Chinese company founded on January 7, 2010, which produces, develops and operates augmented reality (AR) interactive entertainment games and toys in China. Their products also include interactive educational materials, mobile games, and toys with mobile game features. Their Mobile connected entertainment platform enables us to connect physical items to mobile devices through wireless technologies which creates a unique interaction for the users.

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