Streetbeat News

MSGM

Motorsport Games Inc.

Industry

Electronic Gaming & Multimedia

Motorsport Games Inc. develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content. It also organizes and facilitates esports tournaments, competitions, and events for its licensed racing games, as well as on behalf of third-party racing game developers and publishers. The company sells its video game products through various retail and digital channels. Motorsport Games Inc. was founded in 2018 and is headquartered in Miami, Florida. Motorsport Games Inc. operates as a subsidiary of Motorsport Network LLC.

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The article highlights three oversold stocks in the communication services sector: SPAR Group Inc (SGRP), Tencent Music Entertainment Group (TME), and Motorsport Games Inc (MSGM). These stocks have RSI values near or below 30, indicating potential undervaluation. SPAR Group reported strong revenue growth in the U.S. and Canada but saw a 20% stock decline over the past month. Tencent Music missed revenue estimates, leading to a 30% stock drop. Motorsport Games reported better-than-expected results but experienced a 51% stock decline.

Portfolio Pulse from Avi Kapoor

August 22, 2024 | 11:36 am

Motorsport Games shares are trading higher after the company reported better-than-expected Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 8:23 pm

Motorsport Games (NASDAQ:MSGM) reported Q2 2024 GAAP EPS of $0.87, beating the estimate of $0.69 by 26.09%. The company also reported sales of $1.881 million, surpassing the estimate of $1.556 million by 20.85%. This represents an 8.17% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 8:11 pm

Motorsport Games has announced a direct offering of 460,830 shares at $2.17 each. Additionally, there will be a concurrent private placement of Series A and B warrants for an additional 460,830 shares each, pending stockholder approval. The closing is expected on July 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:46 pm

The article highlights the pre-market movements of 12 communication services stocks on Thursday. Notable gainers include DouYu Intl Hldgs (DOYU), TuanChe (TC), Paramount Global (PARA, PARAA), HUYA (HUYA), and Urban One (UONE). Significant losers include Leafly Holdings (LFLY), Hanryu Holdings (HRYU), Loop Media (LPTV), Global Mofy Metaverse (GMM), Motorsport Games (MSGM), and Blue Hat Interactive (BHAT).

Portfolio Pulse from Benzinga Insights

July 05, 2024 | 2:59 pm

The article highlights the pre-market movements of various communication services stocks on Thursday. Notable gainers include Fangdd Network Group (DUO), John Wiley & Sons (WLY), and Sify Technologies Limited - Rights (SIFYR). Significant losers include Hanryu Holdings (HRYU), Grom Social Enterprises (GROM), and Chicken Soup for the Soul (CSSE).

Portfolio Pulse from Benzinga Insights

June 13, 2024 | 12:07 pm

The article highlights the intraday movements of several communication services stocks on Friday. Notable gainers include Leafly Holdings (LFLY), Cumulus Media (CMLS), GD Culture Group (GDC), Hanryu Holdings (HRYU), Chicken Soup for the Soul (CSSE), and iHeartMedia (IHRT). On the losing side, Able View Global (ABLV), 36KR Holdings (KRKR), Motorsport Games (MSGM), Onfolio Holdings (ONFO), ZW Data Action Tech (CNET), and Moving iMage Technologies (MITQ) saw declines.

Portfolio Pulse from Benzinga Insights

June 07, 2024 | 4:31 pm

The article highlights the pre-market movements of several communication services stocks on Friday. Notable gainers include Leafly Holdings (LFLY), Super League Enterprise (SLE), and Treasure Global (TGL), while significant losers include Moving iMage Technologies (MITQ), 36KR Holdings (KRKR), and GD Culture Group (GDC).

Portfolio Pulse from Benzinga Insights

June 07, 2024 | 12:08 pm

Shares of G-III Apparel Group (NASDAQ:GIII) fell 13.4% after reporting worse-than-expected quarterly sales. Other notable stock movements include Virax Biolabs (NASDAQ:VRAX) jumping 139.4%, American Oncology Network (NASDAQ:AONC) gaining 102%, and several other stocks experiencing significant gains or losses.

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 5:39 pm

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.

Portfolio Pulse from Benzinga Neuro

June 06, 2024 | 12:18 pm

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