It was not a particularly great day in the markets for HeadsUp Entertainment International Inc (OTCMKTS:HDUP) as the company saw its stock go through a selloff and end the day with a decline of as much as 7%. In light of such a decline, it could be a good idea for investors to perhaps take a closer look at the company and then figure out if the decline in the stock could in fact prove to be an opportunity or not.
Trading Data
On Friday, HDUP stock moved down 6.67% to $0.1016 with more than 280K shares, compared to its average volume of 608k shares. The stock moved within a range of $0.1000 – 0.1089 after opening trading at $0.1089.
About HeadsUp Entertainment
The company is regarded as a media company and a worldwide gaming operator. HeadsUp Entertainment is mainly involved in online power, eSports, online gaming, online lottery, and charity fundraising platforms. In addition to that, it is also focused on the development of software as well as payment systems that are powered by blockchain. It is quite clear to see that the company is involved in a wide range of interesting businesses.
HeadsUp Entertainment Closes Global Digital Lottery Transaction with LotteryHub
As it happens, the company had actually come into the news back on June 30 after it made an announcement that may come as a further boost to its online lottery business. HeadsUp Entertainment announced that it had been successful in gaining complete control of the platform LotteryHub.
LotteryHub is a lottery information platform and has already served in excess of 4 million Americans so far. Hence, it could well prove to be a highly important and popular acquisition for HeadsUp Entertainment as it seeks to become a leader in the online lottery space.
In addition to that, it is perhaps also necessary to point out that the company had also been active in putting plans in place even prior to the completion of the transaction. HeadsUp Entertainment had been working on securing worldwide partnerships in its quest to expand the LotteryHub brand at a global level even before the transaction had been closed.
The company wishes to make LotteryHub the platform for online sales of lotteries, of both the national and state level variants. At this point in time, it remains to be seen if the stock can actually make a quick rebound as another trading week begins.
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 below the 20-Day and 50-Day Moving averages of $0.11 and $0.11 respectively. However, the stock is trading above the 200-Day moving average of $0.08.
