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Esports Entertainment Group Inc. (GMBL) share price soared 16.63% with the closing price of $5.26 on Friday. Esports Entertainment Group Inc. stock has an exchanging volume of 0.45 million shares, which is high, contrasted with its 3-months average volume of 334.89K shares. Its market capitalization has now reached to $64.70M.
Esports Entertainment Group Signs First-of-its-Kind Agreement with LA Kings and LA Galaxy to be their Official Esports Tournament Provider on October 13, 2020 news published at Yahoo.
Esports Entertainment Group, Inc. (GMBL) reported that it has entered into an agreement with AEG, the world’s leading sports and live entertainment company, to become the official esports tournament provider for the LA Kings of the National Hockey League and LA Galaxy of Major League Soccer. This is a new category for the LA Kings and LA Galaxy and the Company’s first partnership with an MLS and NHL team.
“This is the first big U.S. push for our tournament platform, a key component of our Three Pillar Strategy for growth,” commented Magnus Leppaniemi, EVP of Esports for GMBL. “The LA Kings and LA Galaxy are highly acclaimed teams, and we are incredibly proud to be a part of their ongoing success.”
Under the terms of the agreement, brokered by AEG Global Partnerships, the Company will exclusively host branded tournaments for the LA Kings and LA Galaxy on its Esports Gaming League (“EGL”) platform, providing new ways for the teams to engage their fans while demonstrating the crossover appeal of esports to traditional sports fans and organizations.
“AEG is proud to join forces with EEG, an industry leader whose commitment to their customers and the overall growth of sports and entertainment aligns perfectly with ours,” said Josh Veilleux, senior vice president, AEG Global Partnerships. “We are continually looking for new and innovative ways to give back and add value to our fans. Thanks to this first-of-its-kind partnership, both the Kings and the Galaxy will be able to create even more memorable experiences for the devoted Angelenos who support them.”
EGL enables live and online events and tournaments where gamers can compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform with over 350K registered gamers. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments.
GMBL Past Trading Activity
The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, GMBL price has rose by 12.15%. In the course of past three months sees the stock go down around -10.39%, while it has gain 54.71% over the past six months and 54.71% since the start of the year.
GMBL Price Performance
Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on Esports Entertainment Group Inc. has seen its stock exchanging -19.69% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +48.17% above its three-month low. A more extensive look sees GMBL exchanging -46.05% beneath its 52-week high and 119.17% above from its 52-week low price.
GMBL Instability & Beta Factor
The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 11.73%, while it has a month to month instability of 9.75%. The company has an ATR (Average True Range) of 0.44 and a beta factor of 1.01.