Shares of Cheetah Net Supply Chain Service Inc. (CTNT) are trending Tuesday after a massive after-hours pop. The stock surged 71.04% to $3.11 in Monday's extended session following news that the company completed its acquisition of Super International Trading Limited, a Hong Kong-based firm that deals in large-scale industrial equipment.

$4.98 Million Cash Deal

According to a Securities and Exchange Commission filing, Cheetah Net finalized the purchase on May 27. Super International is now a wholly owned subsidiary after the close of a share transfer agreement signed April 16 with seller Leyan Yang, a non-U.S. individual. Cheetah Net paid approximately $4.98 million in cash for the deal.

In May, Cheetah Net reported first-quarter results, posting a loss of $4.53 per share, which beat the estimated loss of $10 per share by 54.70%. However, revenue of $92,700 fell short of the $200,000 estimate by 53.65%.

Trading Metrics and Technical Analysis

The California-based logistics and supply chain company has a market capitalization of $5.39 million. Its 52-week high is $462, and its 52-week low is $1.51. The stock's Relative Strength Index (RSI) sits at 21.12, indicating oversold conditions. Over the past 12 months, CTNT has dropped 99.31% and is currently trading near its annual low.

Price Action: The stock closed the regular session at $1.82, up 9.64%. MarketDash's Edge Stock Rankings indicate that CTNT has a negative price trend across all time frames.