Hall of Fame Resort & Entertainment Company (HOFV) shares were rising 6.36% to trade at $4.18 in premarket on Thursday, April 29, 2021. HOFV’s stock gained 0.26% to close Wednesday’s session at $3.93. HOFV shares have sink 47.30% over the last 12 months, and they have moved up by 17.31% in the past week. Over the past three months, the stock has gained 61.07%, while over the past six months, it has soared 94.55%.
HOFV First NFT Offering
On April 8, 2021, Hall of Fame Resort & Entertainment Company (HOFV) announced its first non-fungible tokens (NFTs) in partnership with Dolphin Entertainment, Incand Elite Holdings LLC (owner of H2H).
All the companies will develop, market, promote and sell NFTs associated with the H2H Legends.
HOFV agreement extension with PepsiCo
On April 1, 2021, Hall of Fame Resort & Entertainment Company (HOFV) extended its agreement with PepsiCo Beverages North America. According to the agreement, Pepsi beverage products will continue to be sold at the destination and all of its assets, including the Tom Benson Hall of Fame Stadium, DoubleTree by Hilton hotel, and the National Youth Football and Sports Complex.
HOFV released details about the Hall of Fantasy League
On March 30, 2021, the Hall of Fame Resort & Entertainment Company (HOFV) released the team locations, names, and logos for the Hall of Fantasy League. The 10 franchises that will comprise the HOFL include,
Atlanta Hot Wings, Boston Barflies, Chicago Hogmollies, Los Angeles SidekicksNew York Bodega Cats, Ohio GOATS, Philadelphia Powderkegs, Seattle Haze, Texas Y’allers, Vegas Pocket Kings.
DLPN and HOFV partnership
On March 23, 2021, Dolphin Entertainment, Inc announced that it has signed a partnership agreement with the Hall of Fame Resort & Entertainment Company (HOFV). According to the agreement, non-fungible tokens (NFTs) will be offered by (HOFV) which will allow fans of professional football and sports entertainment to buy and sell exclusive content developed by HOFV and its partners.
On March 11, 2021, HOFV announced its fourth-quarter fiscal 2020 results for the period ended December 31, 2020.
FY 2020 financial highlights
- HOFV FY 2020 revenue was $7.1 million compared to $7.8 million in 2019.
- HOFV suffered a net loss of $71.3 million in 2020 compared to a net loss of $55.9 million in 2019.
- As of December 31, 2020, HOFV has a cash and cash equivalent of 310 million
- Full-year 2020 adjusted EBITDA was a loss of $20.5 million.
Q4 2020 financial highlights
- HOFV fourth-quarter revenue was $1.8 million.
- HOFV suffered a net loss of $14.6 million in Q4 2020.
- fourth-quarter adjusted EBITDA was a loss of $6.5 million.
HOFV stock is gaining and it could be due to the NFT offering announced on April 8. We expect that HOFV will continue to rise in the coming days.