The recent weeks have been particularly fruitful for Eros STX Global (NYSE:ESGC) investors and the rally in the stock continued on Friday as the stock soared by another 13%. That took the gains made by the stock over the course of the past month to as much as 54%.
Trading Data
On Friday, ESGC stock moved up 12.83% to $0.35.35 with more than 9.42 million shares, compared to its average volume of 5.63 million shares. The stock has moved within a range of $0.3100 – 0.3799 after opening trade at $0.3151.
Sling TV adds Eros Now to service
There was no news about the company on Friday. However, in this situation, it could be a good idea for investors to look into the announcement from the company back on December 16, 2021. At the time Eros STX Global announced that its streaming service had been added to the line up on Sling TV.
It was a major development for the considering the fact that Sling TV is a major platform and the international subscribers on the platform would get access to the content library that is owned by Eros.
In excess 1500 titles and web series are going to be available on Sling TV. The rally in the stock had actually started after the announcement had been made by Eros STX Global back in December. However, it is going to be interesting to see if the stock can manage to hold on to this momentum in the coming days.
Technical Data
ESGC stock is below the 50-Day and 200-Day Moving averages of $0.40 and $0.92 respectively. However, the stock is trading above the 20-Day moving average of $0.29.
