Nowadays, many companies are moving into the cryptocurrency space due to the sheer popularity of digital assets and one of the companies to have done that in recent days is Good Gaming (OTCMKTS:GMER).
The development had also come as a massive boost for the stock. Although the Good Gaming stock declined by 21% yesterday owing to a case of profit taking from investors, it should not be forgotten that the stock has actually soared by as much as 600% over the course of the past month.
The major boost for the stock was the announcement from the company’s Chief Executive Officer David B. Dorwart about the launch of a unique online game. The game is going to allow participants to generate profits the Good Gaming cryptocurrency GOO. The cryptocurrency is produced passively. It is a major development for the company since such a feature is expected to attract a vast number of players to the game. However, that is not all. Good Gaming is trying to expand its digital assets operations considerably.
The company noted at the time that it is also going to get into the NFT or non-fungible token space. NFTs have proven to be a highly popular class of digital assets in recent times.
Market Reaction:
On Tuesday, GMER stock moved down 21.25% to $0.1890 with more than 6.47 million shares, compared to its average volume of 4.38 million shares. The stock has moved within a range of $0.1550 – 0.2493 after opening the trade at $0.2430. Over the past 52-week, the stock has been trading within a range of $0.0044 – 0.2495.
 Stock Witnesses Profit Booking After The Monster Rally){kind=link}