Motorsport Games Shares Surge After Regaining NASDAQ Compliance
Portfolio Pulse from Benzinga Neuro
MotorSport Games Inc. (NASDAQ: MSGM) shares surged over 20% in pre-market trading after the company announced it had regained compliance with NASDAQ listing requirements. The company has implemented a restructuring plan that reduced annual costs by $6.7 million and is focusing on revenue-driving initiatives such as the launch of 'Le Mans Ultimate' and a partnership for 'F1® Arcade' with Kindred Concepts.
June 06, 2024 | 12:18 pm
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MotorSport Games Inc. (NASDAQ: MSGM) shares surged over 20% in pre-market trading after the company announced it had regained compliance with NASDAQ listing requirements. The company has implemented a restructuring plan that reduced annual costs by $6.7 million and is focusing on revenue-driving initiatives such as the launch of 'Le Mans Ultimate' and a partnership for 'F1® Arcade' with Kindred Concepts.
The news of regaining NASDAQ compliance is a significant positive development for MotorSport Games, as it alleviates delisting concerns and boosts investor confidence. The restructuring plan and focus on new revenue initiatives further enhance the company's growth prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100