Today we feature The Score Inc. (TSXV: SCR), a junior Internet media company, as the top momentum gainer since the stock jumped more than 15%, touching its 52-week highs during the last two consecutive trading days with far more shares changing hands than in a normal session. In the last session, SCR was among the top performers in the Canadian technology sector after rising 20.3% and closing at its 52-week high of C$0.42 while recording significant volume of 3.1 million shares. During the past 5-trading sessions, SCR surged 25.8% with daily average trading volumes of 904,512 shares, while the stock accumulated over 12% during the past one month with one-month average volume of 207,625 shares. So far this year, the stock has provided a return of over 144%. Recently, SCR announced a bought deal agreement worth of C$7.9 million representing 26.4 million shares at a price of C$0.30 per share. Concurrent with the Bought Deal Offering, the company also intends to complete a private placement worth C$7.1 million which includes 23.6 million shares at a price of C$0.30 per share. The company intends to use the net proceeds to support the ongoing development of its flagship mobile sports app “theScore” and the expansion of sales and marketing efforts and for general corporate and working capital purposes.
Company Description:
The Score Inc (TSXV: SCR) creates, aggregates and distributes sports content via established and emergent digital media assets, including mobile sports applications and its website
1-Year Stock Chart:
Source: Bloomberg
