Shares of Esports Leisure Group (NASDAQ:GMBL) have been wanting like a nasty guess Friday, down 13.7% as of two p.m. EST after the Malta-based supplier of esports and esports gambling providers introduced that it’ll promote 2 million shares of widespread inventory at $15 per share in a direct, at-the-market providing.
In all probability not coincidentally, the inventory was buying and selling Friday afternoon solely marginally greater than the value of that secondary inventory sale.
Esports didn’t say what it’s elevating the cash for. It did say that it expects to shut the inventory providing on or round Tuesday.
Additionally taking place that day — an earnings report. On Wednesday, Esports introduced that it’ll launch outcomes for its fiscal 2021 second quarter after the shut of buying and selling Tuesday. Presumably, that may also be after it closes its inventory sale.
Buyers shopping for this inventory between now and that quarterly report are taking one thing of a raffle themselves — on whether or not the earnings information will likely be good or dangerous. For what it is value, analysts who observe the corporate predict that Esports will report $2.4 million in income (up about 10% sequentially from Q1), however an $0.18 per share loss — 20% worse than final quarter.
So, investor, do you are feeling fortunate?
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