Yesterday, the Color Star Technology Ltd (NASDAQ:CSCW) stock emerged as one of the notable gainers after it made a key announcement and ended the day with gains of as much as 19%.
The entertainment technology firm announced that its fully owned subsidiary company Color China Entertainment Co Ltd signed a cooperation agreement former basketball great Shaquille O’Neal. It was a major development for the company and the investors seemed to think so as well. Hence, it might be a good idea for investors to perhaps take a closer look at the nature of the deal between the two entities.
It should be noted that Color China Entertainment had actually formalised their agreement back on March 29 this year. As per the provisions of the agreement, O’Neal was going to be a celebrity instructor on interactive platform that is operated by Color Star. However, that is not all. As per the terms of the agreement, the former basketball star is also going to teach basketball on that channel and also talk about his experiences as one of the most famous basketball players in the world. Considering the gains made by the Color Star stock yesterday, investors could do well to keep an eye on it today.