Online Gaming Stock Rolls Higher on Financial Results

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.

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

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