A company that had been in the news on Tuesday owing to a key new announcement was International Star Inc (OTCMKTS:ILST) and it could be the reason why the stock may come into focus among investors today. The company announced yesterday that it had been successful in completing the acquisition of Budding Equity Inc.
Trading Data
On Tuesday, ILST stock ended flat at $0.0010 with more than 568.93K shares, compared to volume of 5.17 million shares. The stock moved within a range of $0.0010 – 0.0010 after opening trade at $0.0010.
International Star (OTC:ILST) Announces Completion Of First Acquisition
Budding Equity is a company that is based out of Canada and is involved in working with film studios as well as celebrities so as to monetize their intellectual property in the cannabis industry. It was a significant new announcement from the company and it would be interesting to see if it leads to any strong move in the stock over the coming days or not.
International Star announced yesterday that the move to acquire Budding Equity was part of the company’s larger strategy of bringing about expansion through internal revenue growth. It seeks to achieve that through the acquisition of synergistic sustainable businesses with free cash flow.
The two companies had entered into the agreement last year in August and as part of the agreement International Star was also supposed to lend funds to Budding Equity for working capital purposes.
