Why Esports Entertainment's Stock Is Trading Higher Today
Esports Entertainment Group, Inc. (NASDAQ:GMBL) shares are trading higher after HC Wainwright & Co. initiated coverage on the stock with a Buy rating and announced a $20 price target.
Esports Entertainment Group is a development-stage online gambling company focused purely on esports.
HC Wainwright analyst Scott Buck noted six key investment catalysts for this stock:
- Complementary business segments drive meaningful organic growth opportunity
- Roll-up strategy to accelerate revenue through customer acquisition, new products, and new geographies
- U.S. expansion supported by favorable changes to U.S. regulatory environment
- Recent partnership agreements provide pool of potential customers and drive potential new gaming center opportunities
- Balance sheet strength supports near term expansion goals
- Attractive valuation versus both esports and gaming peers
Esports stock was trading 13% higher at $13.35 at the time of publication. The stock has a 52-week high of $24.48 and a 52-week low of $3.08.
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