Color Star Technology Co Ltd (NASDAQ: HHT) is flying for the top in the market this morning, gaining nearly 100% in the premarket hours. The gains come after the company announced the acquisition of new tallent. Here’s what’s going on:
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HHT Stock Flies On Talent Acquisition
In the press release, Color Star Technology said that its subsidiary Color China Entertainment Limited, has added three tallented members to its managment team.
First and foremost, HHT said that Mr. Chu-hsing (Frank) Peng joined the company as its Chief Artist Officer. Frank is a very talented player who has worked as a producer, song writer, guitarist, and agent. In fact, he is often considered to be the Pioneer of Mandarin Boy Groups.
Next in line, Ms. Man Zhang has joined Color China as its Executive Vice President. She is known for expertise in TV program planning, show hosting and producing and talent management.
Finally, HHT said Xiaoqiao Liu has joined Color China as its Entertainment Advisor. Xiaoqiao is a bilingual entertainment pro that specialiezes in U.S.-China collaborations, TV productions, live streaming and music production.
In a statement, Yang (Sean) Liu, CEO at HHT, had the following to offer:
As we continue to accelerate our educational products and service offerings in online education towards the entertainment sector, we are excited to acquire talents who are highly respected and well-known to join Color China’s senior management team. We now have a talented team covering our important geographic markets. With their market expertise, we are excited to provide unique online learning services that are truly unique and relevant in addressing the market needs.
Why This News Is So Exciting
At first glance, this may not seem like much of a big deal. However, in China, the entertainment industry is a massive one. With Color Star Technology adding these three key players with serious pedigree in the entertainment space, the company is positioning itself to see tremendous growth through the space. As such, HHT is a stock worth watching closely.
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