![]() This also means lower interest outgo for MSGM.Ĭuriously, another gaming name Mobile Global Esports ( NASDAQ:MGAM), which has a similar sounding ticker as MSGM is up in double digits too. The maneuver has done wonders for the stock already and the company is taking this a notch higher by paring down its debt by $1 million. The company has now taken care of these pain points with a board rejig and a share issuance. ![]() Last year, MSGM had noted it was not following NASDAQ’s requirements for minimum outstanding shares and board constitution. So what explains the wild ride in this ~$40 million market capitalization company with a beta of -1.17 and a short interest of 6.1%. While the average trading volume in MSGM hovered at 137,700 shares over the past three months, it has seen an average volume of 50.15 million yesterday. This is on top of the 700% gain the stock witnessed yesterday! There are stock rallies that sound humongous and there is the price action in racing video games maker Motorsport Games ( NASDAQ:MSGM) this week that would make you raise your eyebrows.
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