Mobile Global Esports Inc. [NASDAQ: MGAM] jumped around 1.79 points on Monday, while shares priced at $12.98 at the close of the session, up 16.00%. The company report on July 28, 2022 that Mobile Global Esports Announces Pricing of $6.0 Million IPO.
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(NASDAQ:MGAM) Mobile Global Esports Inc. (“MOGO” or “the Company”), a mobile esports company with an esports and social platform that includes proprietary compression technology, as well as holding trademark and IP rights for collegiate esports tournaments and players in India, today announced the pricing of its initial public offering of 1,500,000 common shares at a public offering price of $4.00 per share, for gross proceeds of approximately $6.0 million before deducting offering expenses. In addition, the Company has granted the Underwriters a 30 day over-allotment option to purchase an additional 15% or 225,000 shares.
The shares are expected to begin trading on the Nasdaq Capital Market on July 29, 2022 under the ticker symbol “MGAM.” The offering is expected to close on August 2nd, 2022, subject to satisfaction of customary closing conditions.
Compared to the average trading volume of 15.27M shares, MGAM reached a trading volume of 24148649 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Mobile Global Esports Inc. [MGAM]?
The Average True Range (ATR) for Mobile Global Esports Inc. is set at 9.54 The Price to Book ratio for the last quarter was 998.46.
How has MGAM stock performed recently?
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.