Over the course of the past month, the Good Gaming (OTCMKTS:GMER) stock has been in the middle of a rollicking rally but on Monday, it had a correction and slumped by 23% due to a case of profit booking from investors.
However, at the same time, it should be noted that despite the decline yesterday, the Good Gaming stock is still up by a staggering 600% over the course of the past month. There was no news about the company yesterday but investors could do well to take a look at a development from last week with regards to the uplisting of the Good Gaming stock to OTCQB from pink sheet current on the OTC Markets.
Any kind of uplisting is usually a major boost to companies and so is the case with Good Gaming. In this regard, it is necessary to point out that companies which are listed on the OTCQB are subjected to much tougher reporting requirements. In addition to that, those companies also need to pass verification every year and on top of that, there is also a bid test. Hence, it was no surprise that the news resulted in a rally in the Good Gaming stock last week.
Market Reaction:
On Monday, GMER stock fell 23% at $0.4590 with more than 6.91 million shares, compared to its average volume of 5.12 million shares. The stock had moved within a range of $ 0.4510 – 0.5925 after opening the trade at $0.5875. Over the past 52-week, the stock has been trading within a range of $0.0046 – 0.6200.
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