NTN Buzztime Inc. (NTN) stock has been falling in the early minutes of the regular session on Wednesday. The interactive entertainment and technology providing company saw its shares rise by 36.91% to $6.38 in yesterday’s trading. But the investors seem to be taking profits today as the stock is being traded at a loss of -23.83% with the current price level at $4.86 as of 10:16 a.m. EST.
NTN Buzztime offerings and products help its customers acquire, engage, and retain their patrons. The Buzztime smartphones, smartphone software, and technology are most widely found in bars and restaurants in North America, providing entertaining options to places that have visitors enjoying dwelling time, such as resorts, senior living, and more. Food service venues permit the customizable solution of Buzztime to differentiate them by providing trivia, card, sports, and arcade games to guests through competitive fun. The platform of Buzztime creates connections between the players and venues and enhances the good interactions of guests.
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NTN Buzztime received a letter from the NYSE Regulation this month saying that it is not complying with the continued listing requirements of NYSE American LLC. NYSE intimated to the company that it did not hold an annual meeting during the fiscal year ended December 31, 2020, which is a violation of Section 704 of the NYSE American Company Guide by the company. The NYSE alleged that NTN fails not to comply with Sections 1003(a)(i), (ii) and (iii) of the Business Guide since, as of June 30, 2020, March 31, 2020, and December 31, 2019, as the company registered equity of stockholders of less than $2 million, $4 million and $6 million.
Ault Global disclosed a stake in NTN of 9.96 percent last Friday and called its shares underrated and represented an appealing prospect for investment. After that disclosure, the stock price surged in the last two sessions but today it becomes a victim of profit-taking.