Shares of Esports Entertainment Group Inc. soared Thursday toward a more than three-year high, after Citron Research said GameStop Corp. should buy the online gambling company to provide customers two things they love: videogames and gambling.
At that time, Citron said it would focus on “long-side multibagger opportunities” for individual investors. GameStop shares were back in vogue, shooting up 55.8% in morning trading, after skyrocketing 103.9% on Wednesday. Prior to the rally, the stock had closed Tuesday at $44.97, or 87.1% below its Jan. 27 record close of $347.51.
Esports Entertainment shares GMBL, +24.23% hiked up 26.9% in active morning trading to the highest prices seen since November 2017. Trading volume was 9.3 million shares, compared with the full-day average of about 1.7 million shares over the past 30 days.
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