Mobile Global Esports sparks retail chatter, shares jump for second day

Mobile Global Esports

01/08/2022 12:08

** Shares of online gaming co Mobile Global Esports  MGAM.O 
jump 47.6% to $16.52 premarket
    ** MGAM shares more than doubled on their market debut on
Friday
    ** Co is the second most trending stock on retail investor
focused social media forum Stocktwits.com
    ** MGAM is also among the 10 most active stocks in premarket
trading, with volumes at more than 760K
    ** It was also among the top traded stocks among retail
investors on Friday, according to Fidelity 
    ** Co had announced its initial public offering of 1.5 mln
common shares at a offer price of $4.00 per share, for gross
proceeds of ~$6 mln before deducting offering expenses
    ** Shares began trading on Friday and the offering is
expected to close on Aug. 2, subject to satisfaction of
customary closing conditions - co

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com; Twitter:
@bansarikamdar https://twitter.com/BansariKamdar))