The global gaming and media industry has become one of the faster-growing sectors in the world in the past few years and for good reason too. Investors are often on the lookout for options in the sector nowadays and there are plenty of companies to choose from as well.
One of the companies from the sector that may be looked into by investors at this point in time is HeadsUp Entertainment International Inc (OTCMKTS:HDUP). The company is a global gaming operator and is primarily involved in the betting and gaming industry.
Trading Data
On Thursday, HDUP stock fell 4.81% to $0.1089 with 2.22 million shares, compared to its average volume of 608K shares. The stock moved within a range of $0.0960 – 0.1399 after opening trade at $0.12.
About The Company
HeadsUp Entertainment is involved in online gaming, sports betting, eSports, online lottery, and charity fundraising platforms among others. However, that is not all. The company is also involved in technology in its own way. HeadsUp Entertainment is also involved in the development of payment solutions powered by blockchain and other software applications.
While the company may seem like an interesting proposition to many investors, it cannot be denied at the same time that on Thursday, the HeadsUp Entertainment stock was in the middle of a downward spiral. The stock suffered from a fairly strong selloff yesterday and ended the day with a decline of as much as 5%.
HeadsUp Entertainment Closes Global Digital Lottery Transaction with LotteryHub
The selloff in the stock had come about after the company made a major announcement with regard to one of its business segments and investors reacted negatively. The company announced yesterday that it had been successful in gaining complete control of the platform LotteryHub.
It could well be one of the more important acquisitions for HeadsUp Entertainment, considering the fact that LotteryHub is a highly popular online lottery platform and has functioned as a lottery information center for as many as 4 million Americans so far. More importantly, HeadsUp Entertainment also prepared well prior to completing the acquisition.
The company had managed to tie up a number of global partnerships so that the LotteryHub brand could be expanded on a global level aggressively. HeadsUp Entertainment is looking to make LotteryHub the leading platform when it comes to the sales of national and state lotteries.
Key Quote
“Access for global lottery operators utilize software such as LotteryHUB is huge for all of our partners and in times of recession and tough economic conditions, the lottery and gaming sectors see unprecedented growth in market size and the ability for the HeadsUp line of products and services fast tracks the path to massive revenues,” commented HeadsUp President and CEO Doug Wilson.
Technical Data
HDUP stock is trading above the 20-Day and 50-Day Moving averages of $0.11 and $0.11 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.08.
