Stocks often trade in a range before breaking out or declining in a big way and hence, it may be a good idea for investors to take a closer look before either of those things happen.
Trading Data
On Thursday, GIGI stock ended flat at $1.73 with 20.50k shares, compared to its average volume of 3k shares. The stock has moved within a range of $1.7332 – 1.7332 after opening trade at $1.7332.
Gaming Innovation Group acquires Sportnco
The Gaming Innovation Group Inc (OTCMKTS:GIGI) stock was trading within a range yesterday and perhaps it wasn’t surprising considering the fact that there was no news about the company yesterday. However, in this situation, it could be a good move for investors to consider taking a look at a development from December 22. At the time the company announced that it had signed Share Purchase Agreement by way of which it was going to completed the acquisition of the company Sportnco Gaming SAS, which is involved in the iGaming space.
Sportnco is currently regarded as one of the leaders in the field of turnkey gaming and betting solutions when it comes to sports books which operate in regulated geographies. The acquisition is expected to further strengthen the position of Gaming Innovation Group as one of the major players in the industry. At this point, it may be a sound move for investors to add the Gaming Innovation Group stock in their watch lists.
Key Quote
Richard Brown, CEO of GiG said: “We are tremendously excited to welcome Sportnco into Gaming Innovation Group product offering. The transaction accelerates our long-term vision to become a global leader in the provision of platform, sportsbook and media services to the iGaming industry. The hugely complimentary regulatory profile and high-quality sportsbook that Sportnco have, rapidly expands both companies short- and long-term addressable market. Herve and the team at Sportnco have built a fantastic company over the last decade, creating a great product and working in a range of competitive regulated markets and have a proven track record of success. We are very excited to combine the two companies’ offerings and accelerate our growth potential.”
