Why Elys Game Technology Corp. (ELYS) stock soared on Tuesday?

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SQM Stock
SQM Stock

Elys Game Technology Corp. shares soared 6.44% in after-hours on Tuesday, January 11, 2022, and closed the daily trading at $2.81. Even in the regular trading session of Tuesday, ELYS’s stock gained 5.18%. ELYS shares have fallen 53.52% over the last 12 months, and they have moved down 10.20% in the past week. Over the past three months, the stock has lost 43.71%, while over the past six months, it has declined 27.27%.

Let’s have a look at its recent news and developments


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ELYS recent corporate updates

On January 6, 2022, Elys Game Technology, Corp. appointed Carlo Reali as Interim Chief Financial Officer and Principal Accounting Officer effective, and the addition of Tory Key and Steven Maldonado to U.S. Operations.

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ELYS delisted in NEO Exchange Canada

On December 29, 2021, Elys Game Technology, Corp. voluntarily delisted its common shares from the NEO Exchange in Canada as part of the Company’s corporate strategy. The Company shares of common stock will continue to be listed and traded on Nasdaq under the symbol ELYS.

ELYS agreement with Playtech

On December 20, 2021, Elys Game Technology, Corp. announced a content distribution agreement with Playtech, a leading gambling software development company, to integrate and launch its digital i-gaming content under the Newgioco brand in Italy.

After the agreement, Elys’ online and mobile casino now includes 31 providers that offer customers in Italy up to 1,300 slots as well as 100 tables and live dealer games.

Recent business updates

On December 16, 2021, Elys Game Technology, Corp. provided U.S. sportsbook metrics for November and provide an update on its small business application product launch.

The company observed significant growth since launching its North American betting platform in October. The Company plans to further accelerate growth in 2022 by expanding its betting technology beyond small business, at the Ocean Resort Casino in Atlantic City, expected to commence in March of 2022.

ELYS latest financial results

On November 22, 2021, Elys Game Technology, Corp. released its financial and operating results for the nine and three months ended September 30, 2021.

Q3 2021 financial highlights

  • Total revenue for the third quarter of 2021 was $8 million compared to $9.7 million in the third quarter of 2020.
  • Total cost and expenses were $11.13 million in Q3 2021 compared to $10.3 million in Q3 2020.
  • It suffered a net loss of $3.51 million or net loss per share of $0.15 in Q3 2021 compared to a net loss of $1.21 million or net loss per share of $0.08 in Q3 2020.

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Conclusion

Well, as of this writing, there is no recent news or development to justify its recent gains on Tuesday. We hope that it will continue to surge in the coming trading sessions as well.

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