Online Gaming Stock Rolls Higher on Financial Results

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Bragg Gaming Group Inc. (TSXV:BRAG), an online gaming stock, powered higher after announcing Q1 financial results

Sean Mason | June 30, 2020 | SmallCapPower

Financial results turned an Canadian online gaming stock into a good bet Tuesday. Here’s some small stocks making big moves on Tuesday, June 30, 2020 (as of 4 pm EST):

Bragg Gaming Group Inc. (TSXV:BRAG), an online gaming stock, climbed 13% to $0.55 on Tuesday after announcing that during its first quarter of 2020 it achieved 44% revenue growth year over year along with 100% Adjusted EBITDA growth.

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As well, shares of Cineplex Inc. (TSX:CGX) slid 19% to $8.04 as the movie theatre chain said it is seeking additional financing and its status as a going concern could be at risk.

POET Technologies Inc. (TSXV:PTK), meanwhile, reported that it has signed a Letter of Intent to establish a joint venture with Xiamen Sanan Integrated Circuit Co. Ltd. (Sanan IC) to manufacture optical engines based on POET’s CMOS compatible Optical Interposer platform technology. Sanan IC will contribute US$50 million in the form of a combination of cash and intellectual property. POET Technologies stock moved up 19% to $0.63 following the announcement.

Finally, Cornerstone Capital Resources Inc. (TSXV:CGP) shares gained 13% to $3.61 after SolGold announced that it has made an all-stock offer to acquire Cornerstone Capital, in which Cornerstone shareholders would receive 11 shares of SolGold for each Cornerstone share held.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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