India, June 25 -- Kustom Entertainment, Inc. (KUST) stock surged 23.13 percent, gaining $0.325 to $1.73 on Thursday, after the company announced a binding agreement to sell its legacy video solutions division to Cycurion, Inc. (CYCU).
The stock is currently trading at $1.73, compared with its previous close of $1.405 on the Nasdaq. Shares opened at $2.145 and traded between $1.71 and $2.53 during the session. Volume reached 77.85 million shares, far exceeding the average daily volume of 187,906 shares.
The divestiture is expected to sharpen Kustom's focus on its live entertainment, music festival production, and online ticketing businesses while improving financial flexibility. Under the agreement, Kustom will receive $5.5 million in tota...