DRP Journal

Discover Research Profit

Finance 

Unique Logistics International Inc (OTCMKTS:UNQL) Stock Soars 60% in a Week: What’s The Buzz?

Ash K , , , ,

Unique Logistics International Inc (OTCMKTS:UNQL) stock was in focus as the stock ended higher on Tuesday. The stock has soared 60% over the past week.

Market Action

In the previous trading session, UNQL surged 7.25% to $0.0429. A total of 1.98 million shares traded for the session hands, well above its average volume of 2.85 million shares. The stock opened at $0.0400 and moved in a range of $0.0380 – 0.0438.

Key Trigger

September 1, 2021 – PharmaDrug Announces pre-IND Meeting Request Granted by FDA for Oral Antiviral Drug Cepharanthine for the Treatment of COVID-19 Infection

Management anticipates continuing strong demand for international logistics services in the year ahead.

The reported revenue for the year ended May 31, 2021 of $371.9 million represents growth of 223% based on revenue of $115.1 million (proforma) reported by the acquired companies in the prior year before acquisition by the Company. The results represent Management’s success in combining the acquired entities and positioning them for growth.

Successful integration of the acquired companies along with the synergies achieved by Management puts the Company in a strong position to grow both organically and through acquisitions in strategic areas of our business.

Key Quote:

“We are proud to present the first full year results of UNQL and believe that we have met shareholder expectations.” said Sunandan Ray, Chief Executive Officer. “We have taken the three companies we acquired and delivered revenues that are 223% higher comparing the current reporting year versus the comparative period before acquisition for the same entities combined. We have achieved these results through the loyalty of our customers, the hard work and dedication of our management and staff and the support of our business partners. At the end of the first full reporting year, I am confident that the Company is ready to build on the base we have established in our market. We are ready to accelerate our growth strategy.