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Why is Esports Entertainment Group Inc. (GMBL) down -97.98% from the day 1 this year?

Let’s start up with the current stock price of Esports Entertainment Group Inc. (GMBL), which is $0.15 to be very precise. The Stock rose vividly during the last session to $0.15 after opening rate of $0.1395 while the lowest price it went was recorded $0.1343 before closing at $0.14.Recently in News on September 15, 2022, Esports Entertainment Group Announces Pricing of $7.5 Million Public Offering of Common Stock and Warrants. Hoboken, New Jersey–(Newsfile Corp. – September 15, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (the “Company”) today announced the pricing of its previously announced underwritten public offering of 30,000,000 shares of common stock and accompanying warrants to purchase 30,000,000 shares of common stock. Each share of common stock is being sold together with one common warrant at a combined effective offering price of $0.25. The common warrants will be immediately exercisable at a price of $0.25 per share of common stock and will expire five years from the date of issuance. The shares of common stock and the accompanying common warrants can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. Esports Entertainment Group has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 shares of common stock and/or additional warrants to purchase up to 4,500,000 shares of common stock. You can read further details here

Esports Entertainment Group Inc. had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $4.2562 on 01/03/22, with the lowest value was $0.1333 for the same time period, recorded on 09/21/22.

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Esports Entertainment Group Inc. (GMBL) full year performance was -97.98%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Esports Entertainment Group Inc. shares are logging -98.18% during the 52-week period from high price, and 10.43% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $0.13 and $8.10.

The company’s shares, operating in the sector of Consumer Cyclical managed to top a trading volume set approximately around 4650821 for the day, which was evidently higher, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Esports Entertainment Group Inc. (GMBL) recorded performance in the market was -95.81%, having the revenues showcasing -66.70% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 11.19M, as it employees total of 299 workers.

The Analysts eye on Esports Entertainment Group Inc. (GMBL)

During the last month, 4 analysts gave the Esports Entertainment Group Inc. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 1 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 0.4289, with a change in the price was noted -0.40. In a similar fashion, Esports Entertainment Group Inc. posted a movement of -73.09% for the period of last 100 days, recording 1,707,388 in trading volumes.

Technical rundown of Esports Entertainment Group Inc. (GMBL)

Raw Stochastic average of Esports Entertainment Group Inc. in the period of last 50 days is set at 2.50%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 3.60%. In the last 20 days, the company’s Stochastic %K was 2.20% and its Stochastic %D was recorded 1.96%.

Considering, the past performance of Esports Entertainment Group Inc., multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -95.81%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -81.78%, alongside a downfall of -97.98% for the period of the last 12 months. The shares increased approximately by -54.71% in the 7-day charts and went up by -68.51% in the period of the last 30 days. Common stock shares were lifted by -66.70% during last recorded quarter.

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