Color Start Technology Co. Ltd. (CSCW) stock prices were down by 1.47% as of the market closing on September 23rd, 2021. This brought the price per share down to USD$0.87 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 2.25%, bringing it up to USD$0.89.
CSCW Stock to Acquire Chujing
September 23rd, 2021 saw the company announce the official signing of an agreement of intent to acquire Chujing Esports. The collaboration will aim to develop a global esports pan-entertainment sector combing each company’s respective industry advantages. CSCW stock will also include this new sector as an essential part of its business. The rapid advancement of network technology in recent years has resulted in the rise of online mobile games. These digital games have become the primary source of leisure and entertainment for young people.
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Following the merger, the partnering companies will integrate their online and offline platforms. This will be done concurrent to the cultivation and development of more esports influencers, esports Ips, esports competitions, and other esports products and services. The two companies will undertake industry synergies and comprehensive platform integration as they lay out a new business strategy for the global market.
Leveraging of Combined Resources
CSCW stock intends to make full use of the diversity of its celebrity interactive platform Color Star APP. Concurrently, the company will utilize the experience and advantages of Chujing Esports in the esports industry. The merger of celebrity entertainment and esports will benefit Color Star in various ways. This is including, but not limited to, assisting the creation of live esports shows, esports expert competitions, and other related IP. This is hoped to result in the attraction of more fans to join its membership base, resulting in greater profit potential.
Scope of CSCW Stock’s Partnership
CSCW stock’s strategy to develop a global esports pan-entertainment cultural sector is not limited to the development and distribution of esports products. The myriad of synergistic business advantages that can be derived from the combination of entertainment and esports will create many profit possibilities. The integration of online and offline models will also allow the company to maximally leverage these new opportunities.
Future Outlook for CSCW Stock
The company has reported a promising quarter, consolidated by its intent to merge with Chujing Esports. CSCW stock is keen to leverage the combined resources at its disposal to usher in unprecedented growth. Current and potential investors are hopeful that this will result in significant and sustained increases in shareholder value.