Recently, Allied Esports Entertainment Inc (AESE) stock rose by 5.02% in pre-market trading to $2.93. Allied Esports’ stock has risen by 33.49% over the past month.
According to Investors Observer, AESE has a short-term technical score of 19. This means that the stock has traded less bullishly over the last month than 81% of stocks on the market. It also has a long-term technical rank of 77, meaning trading over the last 200 days has placed the company in the upper half of stocks with 23% of the market scoring higher.
Allied Esports Entertainment is a global esports organization founded in August of 2019. Its most famous entertainment ventures include World Poker Tour and Allied Esports.
The Profit‘s Take:
Assuming the deal with Element closes and Allied sells World Poker Tour, then Allied stock has been selling for basically less than the cash value of the business. It’s no surprise that investors would notice this and the stock would see a bump. The big question remains – what is the value of the esports assets?