Why Elys Game Technology Corp. (ELYS) faced negativity in the after-hours after exceptional gains on Tuesday?

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Elys Game Technology Corp. (ELYS) shares declined 5.59% in after-hours on Tuesday, August 31, 2021, and closed the daily trading at $6.25. In the regular trading session of Tuesday, ELYS’s stock gained 42.98%. Its shares have risen 278.29% over the last 12 months, and they have moved up 63.46% in the past week. Over the past three months, the stock has gained 26.58%, while over the past six months, it has shed 3.92%.

Let’s see what are the latest news about the company?


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ELYS recent financial results announcement

On August 16, 2021, Elys Game Technology, Corp reported its financial and operating results for the six and three months ended June 30, 2021.

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Q2 2021 financial highlights

  • ELYS reported revenue of $11,689,949 for Q2 2021 compared to $ 4,810,269 for Q2 2020.
  • Total cost and expenses were $ 14,371,528 in Q2 2021 compared to 6,840,793 in Q2 2020.
  • Operating loss was $2,681,579 in Q2 2021 compared to $ 2,030,524 in Q2 2020.
  • It suffered a net loss of $2,771,350 in Q2 2021 compared to a net loss of $2,525,555 in Q2 2020.
  • Loss per basic and diluted share was $0.13 compared to $0.20 in Q2 2020.
  • As of June 30, 2021, the company had cash and cash equivalents of $19.2 million, compared to $19 million on December 31, 2020.

ELYS completed US Bookmaking Acquisition

On July 19, 2021, Elys Game Technology, Corp completed the acquisition of Bookmakers Company US LLC, a Nevada limited liability company doing business as USBookmaking.

USB will become an integral part of Elys’ U.S. facing brand and will continue to operate as a wholly-owned business unit maintaining its well-established brand, employees, management, and bookmaking team.

ELYS New U.S. Retail Sports Betting Platform

On July 16, 2021, Elys Game Technology, Corp showcased its new U.S. retail sports betting platform, Elys Gameboard U.S., at the United Tote booth (booth 539) during the National Indian Gaming Association (NIGA) Trade Show being which was held at Caesars Palace in Las Vegas, Nevada on July 19-22, 2021.

Participation in the conferences

Elys Game Technology, Corp participated at the Summer Solstice Conference, hosted by The MicroCap Rodeo, which was held virtually from June 1st to June 4th, 2021.

The company also took part in Benzinga Global Small-Cap Conference which was held on Friday, May 14, 2021.

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Conclusion

Well, as of this writing, we have no reason which could justify its early surge and later its minor decline in the after-hours on Tuesday. We are not sure how it will commence the trading on Wednesday.

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