WARNING: Market Shock Imminent

Join us on September 29 at 4 p.m. ET at the Market Shock 2022 event to find out what’s coming and how to profit.

Thu, September 29 at 4:00PM ET

TLSS Stock: Why Transportation and Logistics Systems Skyrocketed Today

Nano-cap stock Transportation and Logistics Systems (OTCMKTS:TLSS) skyrocketed 19% higher on Thursday following the closing of its acquisition of Cougar Express. TLSS stock trade volume surged nearly 5 times higher, with volume of 242.8 million trades, compared to an average daily volume of 48.7 million.

A miniature shopping cart is filled with cardboard boxes.

Source: William Potter / Shutterstock.com

Transportation and Logistics Systems is an e-commerce fulfilment provider, while Cougar Express is a logistics provider focused on delivery and warehouse services in the New York tristate area. The acquisition price was $2 million in cash and a $350,000 promissory note. Cougar Express averaged $4 million in annual revenue from 2018 to 2020.

The acquisition deal was first announced in November 2020. In January 2021, TLSS acquired Double D Trucking, a New Jersey logistics provider specializing in servicing FedEx (NYSE:FDX) vehicles.

Last week, Transportation and Logistics Systems reported Q4 and full-year 2020 earnings. Revenue decreased 17.6%, while operating losses of $42.8 were slightly less than 2019 losses of $44.2 million.

Transportation and Logistics Systems stock was largely flat around 4 cents a share last week, dipping to 3 cents at the start of this week. TLSS stock closed Thursday at a price of 3.8 cents a share.

On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Article printed from InvestorPlace Media, https://investorplace.com/2021/03/tlss-stock-why-transportation-and-logistics-systems-skyrocketed-today/.

©2022 InvestorPlace Media, LLC