While it is true that no news emerged in relation to Good Gaming Inc (OTCMKTS:GMER) last week, its stock emerged as one of the notable performers.
During the course of the week, the stock ended up gaining as much as 100% as investors piled on to it in a big way. In order to better understand the rally in the stock, it might be a good move for investors to take a look at an announcement from the company’s Chief Executive Officer David B. Dorwart back on May 27.
At the time, Dorwart announced the launch of a new online game that will enable players to generate passive profits from the Good Gaming cryptocurrency token GOO. It is a major new direction for the company considering the current popularity of cryptocurrencies and the possibility of making passive profits might also prove to be an attractive proposition for many gamers.
In this regard, it is also necessary to point out that Good Gaming is currently working on the expansion of its business operations and is looking to get into digital assets by way of NFTs or non fungible tokens as well. It is likely that the Good Gaming stock is going to be on the radars of investors today.
Market Reaction:
On Friday, GMER stock jumped by 25% to $0.16 with more than 2.67 million shares, compared to its average volume of 4.24 million shares. The stock has moved within a range of $0.1280 – 0.1750 after opening the trade at $0.1315. Over the past 52-week, the stock has been trading within a range of $0.0041 – 0.1920.
Moving Averages
| +/- EMA(20) | 1.10 (+25.45%) |
| +/- SMA(50) | 0.79 (+74.68%) |
| +/- SMA(200) | 0.44 (+213.64%) |
 Stock Is About To Hit New Highs: A Breakout?){kind=link}