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.
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.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.