The eSports industry has grown at a remarkable rate over the course of the past few years and experts believe that the growth may actually continue as the industry continues to evolve. Naturally, more and more investors are now looking into the possibility of investing in stocks from this sector.
One of the companies in the eSports sector stocks to have managed to make a strong move on Tuesday was of GGTOOR Inc (OTCMKTS:GTOR). The stock came into focus among investors yesterday and ended up with gains of as much as 8%. Before delving into the latest news about the company, it might be a good move to have a look at the overview.
Trading Data
On Tuesday, GTOR stock gained 8% to $0.0245 with more than 1.22 million shares, compared to a volume of 4.74 million shares. The stock moved within a range of $0.0221 – 0.0266 after opening trade at $0.0227.
About GGTOOR
While the company is mainly involved in the eSports business, it has also made an aggressive move into the potentially lucrative Metaverse space. As it happens, the company has already purchased as many as 4144 parcels of virtual land which is going to be used for building its own virtual city known as GGTOORCITY.
Up until now, GGTOOR has successfully held more than 220 video game tournaments and has awarded cash and other prizes valued at more than $100000. The company is also engaged in continuously upgrading the GGToor.Com website in order to turn it into one of the world’s most comprehensive gaming platforms.
GGTOOR, Inc., (OTCMKTS:GTOR) Announces Management Report for the Week Ended August 6, 2022
The stock gained on Tuesday after GGTOOR made a major new announcement with regards to one of its latest tournaments. The company announced yesterday that it had crowned as many as six new champions at the first-ever tournament that had been held for Gwent. It was held at the same time as the first team event that had been held for Brawhalla. Other competitions were held as well and in total there were four competitions. GGTOOR announced that the player registrations had gone up in all the four tournaments that had been held by the company. That included a rise in registrations to the tune of as much as 24% in the Super Smash Brothers Ultimate.
More importantly, the company also noted that the month of August is going to be a great one for the company since it is going to expand the number of games in its portfolio. Other than the two above-mentioned competitions, GGTOOR also plans to introduce two new tournaments. On the other hand, there are plans to launch two new games at some point next week.
One of the games that is going to be introduced is Multiverses and the other one is Blood Bowl 2. Blood Bowl 2 has managed to garner a significant fan base of competitive players. Yesterday, the company ended up making a large number of positive announcements, and hence, it is perhaps not a surprise that the stock ended up clocking gains for the day. At this point in time, it may be a good idea for investors to keep an eye on the GGTOOR stock and watch for further developments.
Technical Data
GTOR stock is trading below the 20-Day and 50-Day Moving averages of $0.0273 and $0.0350 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0261. The company has a total market capitalization of $25K. The stock is up 3% over the past week.
