One of the stocks that is likely to come into focus among many investors this morning is that of FansUnite Entertainment Inc. (OTCMKTS:FUNFF). Yesterday, the stock came into focus among investors after the company made an announcement with regards to the signing of an agreement and ended the day with gains of as much as 3%.
Trading Data
On Tuesday, FUNFF stock gained 3.14% at $0.4332 with more than 333k shares, compared to its average volume of 837K shares. The stock has moved within a range of $0.4200 – 0.4850 after opening trade at $0.4850.
FansUnite Acquires American Affiliate, Accelerating Entry into U.S. Gaming Market
The company noted that it inked a definitive agreement earlier on this week on Monday November 22, 2021 by way of which it completed the acquisition of all the brands and businesses of American Affiliate LLC. It was a significant development for the company and it remains to be seen if investors continue to be bullish on the FansUnite Entertainment stock or not.
The acquisition is a significant one for the company’s plans to get into the betting industry in the United States in a meaningful way. FansUnite Entertainment is going to get a top position in the opportunities that lie in the betting industry and will also going to be a participant in a bigger United States affiliate strategy that is going to be put in place in the near future. It might now be a good time for investors to start tracking the stock.
Key Quote:
“The acquisition of American Affiliate represents the most significant milestone for FansUnite to date,” said Scott Burton, CEO of FansUnite Entertainment. “This transformative transaction will provide us further access to the lucrative U.S. regulated sports betting and online gambling market while generating accretive, high-margin revenue, expanding our leadership team, and accelerating the growth of our company’s footprint in the global gambling market.”
Technical Data
FUNFF stock is trading below the 20-Day and 50-Day Moving averages of $0.45 and $0.54 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.70. The stock is down 15% in the past month.
