NEW YORK (TheStreet) -- Shares of VisionChina Media Inc. (VISN) are higher by 22.77% to $17.68 on heavy trading volume on Monday afternoon, following the company's announcement that it formed a strategic partnership with Huawei Technology Co.
VisionChina, one of the largest out-of-home digital TV advertising networks on mass transit systems in China, and Huawei, a provider of information and communications technology solutions, have come together to initiate joint research and development regarding mass transit WIFI and potential overseas mass transit WIFI cooperation.
The partnership with Huawei comes after the company's recently announced partnership with China Unicom (CHU), as part of its efforts to expand its national WIFI strategy and build one of the world's largest national WIFI networks for public transit.
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Separately, TheStreet Ratings team rates VISIONCHINA MEDIA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate VISIONCHINA MEDIA INC (VISN) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins."