Star8 Corp (OTCMKTS:STRH) Stock Jumps 40% After The Acquisition News
Shares of Star8 Corp (OTCMKTS:STRH) were in focus on Friday with a solid jump.
Market Action:
On Friday, STRH stock rose 39.39% at $0.0460 with more than 648.06K shares, compared to its average volume of 463.57K shares. The stock has moved within a range of $0.0308 – 0.0460 after opening the trade at $0.0312.
Acquisition of Rari Nutrition
Star8 Corp (OTCMKTS:STRH) has just completed a major acquisition. It has made an announcement regarding completion of the acquisition of all of the membership interests in Rari Nutrition, LCC. The latter is a South Florida based ecommerce company, which is into health and wellness. After the acquisition, Rari Nutrition is a now wholly owned subsidiary of Star8 Corp. The acquisition was officially completed on 15th October, 2021.
Rari Nutrition has grown into a successful ecommerce platform, ever since it was launched seven years ago. It provides multiple products via the online marketplace – it is a supplier of premium, 100% natural sports nutrition products and nutraceuticals. These products are of the best quality and all-natural, sans any unwanted side effects. They can be purchased on Amazon or directly from the RariNutrition.com website.
Star8 Corp is looking to expand as a company, so the acquisition of Rari Nutrition has happened at the perfect time. Star8 is the right position to leverage Rari Nutrition’s expertise in the ecommerce space for itself and other subsidiary businesses. Mario Diez, Chief Executive Officer of Star8 Corp is elated with the latest developments. He states that an ecommerce extension of their company is essential for the overall growth as an organization.
Key Quote
“We’d like to extend a warm welcome to the team at Rari,” said Mario Diez, Chief Executive Officer of Star8 Corp. “Developing an ecommerce component to our company is important for the growth of Star8 Corp. as an organization. Rari Nutrition’s experience in the online space will be invaluable as we expand and advance our business.”
Traders Corner
STRH stock is trading above the 200-Day and 20-Day Moving averages of $0.0362 and $0.0440 respectively. However, the stock is trading below 50-Day moving average of $0.0467. The stock is up 35% in the past 6-month.
