Digital Media Stock Powers Higher on Expansion Agreement

theScore, Inc. (TSXV:SCR), a digital media stock, jumped after announcing an expansion of its U.S. mobile sports betting platform

Sean Mason | August 1, 2019 | SmallCapPower

A U.S. mobile sports betting agreement paid off big for investors in a Canadian digital media stock Thursday. Here’s some small stocks making big moves on Thursday, August 1, 2019 (as of 4 pm EST):

theScore, Inc. (TSXV:SCR), a digital media stock, climbed 16% to $0.485 on Thursday after announcing an expansion of its U.S. mobile sports betting platform through a multi-state market access framework agreement with Penn National Gaming Inc. (NASDAQ:PENN), North America’s largest regional gaming operator. Penn National has also agreed to take a US$7.5 million equity stake in theScore.

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As well, shares of Hudbay Minerals Inc. (TSX:HBM) fell 21% to $5.04 as the base metals miner said it will appeal Wednesday’s ruling by a U.S. District Court Judge in Arizona, which halted construction of the Company’s nearly $2 billion Rosemont copper project.

Trevali Mining Corporation (TSX:TV), meanwhile, reported record quarterly zinc production of 105.2 million pounds during Q2 2019, while noting that the zinc price had been trending steadily downwards to a low at period end. Trevali Mining stock eased 6% to $0.235 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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