Amaya Gaming Group (TSX: AYA), a gambling software developer, is today’s top stock that gained strong share price momentum on the Pokerstar acquisition deal worth $4.9 billion. The company’s shares climbed over 17% touch its new intraday 52-week highs during the last two consecutive trading days with a greater than average number of shares exchanging hands. In the last session, AYA was the top performer in the Canadian technology sector after gaining 41.7% and ended at its 52-week high of C$19.95 while recording huge volumes of 14.1 million shares. Last week, the stock climbed 78.6% with 5-day daily average trading volumes of 2.4 million shares. A strong momentum is witnessed in the stock during the past one month after the stock climbed over 158% with daily average trading volumes of 885,589 shares. The stock has provided return of 150% year-to-date. The stock rallied after AYA announced the acquisition of PokerStars, an online poker site, for $4.9 billion in cash. AYA founder, chairman and CEO, David Baazov said that the combination will be a global online gaming powerhouse in a large and growing global online gaming market.
Company Description:
Amaya Gaming Group (TSX: AYA) designs, develops, manufactures and distributes products for the gambling industry. The company markets server-based products including a multi-gaming platform, a proprietary gaming library, and a central reporting module. The products can be deployed in one location on a local area network, multiple locations on a wide area network, or as a stand-alone product.
1-Year Stock Chart:
Source: Bloomberg
