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Tag: AESE STOCK

  • What Caused The AESE Stock To Rise After Hours?

    What Caused The AESE Stock To Rise After Hours?

    Shares of global esports entertainment company Allied Esports Entertainment Inc. (AESE) traded higher by 3.17% at $2.28 after hours on Monday. Allied Esports closed the regular session at $2.21, losing -2.64%. Trading volume for AESE stock remained at 1.07 million shares, higher than the average daily volume of 0.73 million shares over the past 50 days.

    Within the past week, AESE’s shares have fallen by -12.65% and decreased by -3.49 % over the past 12 months. AESE stock has lost -15.00% in the past three months, and 42.58% in the past six months. According to the latest information from AESE, the company’s market value is currently $83.83 million, while its outstanding shares are 38.52 million.

    The AESE stock rose in after-hours trades as the company completed the sale of some of its assets.

    What asset did AESE sell?

    The mission of Allied Esports is to deliver quality live experiences, interactive content, and multiplatform services to audiences worldwide through its esports entertainment venture.

    Yesterday, Allied Esports announced that its World Poker Tour assets have been sold to Element Partners, LLC.

    • AESE’s stockholders approved the transaction at a special meeting on July 1, 2021.
    • AESE announced previously that the purchase price of the transaction was $105 million, and that it included 100% of the outstanding capital stock of each of the legal entities that were engaged in and operated poker-related businesses and assets on behalf of AESE.
    • This transaction will enable AESE to focus on growing the business in an innovative and exciting way.
    • World Poker Tour’s acquisition of AESE’s assets also opens up growth opportunities for it as it enters a new phase.
    • AESE now comprises its esports business, Allied Esports, and cash proceeds following the selling of WPT Business.

    AE Studio-AESE’s New Division:

    A subsidiary of Allied Esports recently launched a new division named AE Studios. As part of the newly formed division, AESE will offer turnkey solutions outside of esports tournament operations and broadcasts for partners seeking original content, storytelling, editing, and production services. AESE has created AE Studios as a new content creation and production company for its esports entertainment needs outside of esports events and broadcasts.

    What does the new division mean for AESE’s growth?

    At AE Studios, Allied Esports (AESE) will rely on its rich history of digital content creation, current production team, and world-class facility to leverage its years of experience in digital content creation. AESE’s new initiative includes the HyperX Esports Arena Las Vegas and its production studio in Hamburg, Germany. Through AE Studios, AESE will develop innovative digital products and services for clients and partners from a variety of industries, including gaming, entertainment, pop culture, and music.

  • Why Is The AESE Stock Surging 17% In Premarket Today?

    Allied Esports Entertainment Inc. (AESE) gained 16.96% on Friday at $2.62, as of the last check in the premarket session. In the last trading session, shares of Allied Esports lost -2.61% to close at $2.24. The price of AESE stock ranged between $2.24 and $2.3308 on the day.

    AESE stock traded 3.18 million shares compared with its daily average of 3.63 million shares over the past 100 days. Over the last five days, AESE shares have fallen by -3.03%, while they have lost -7.44% in the last month.  AESE stock has been surging since AE studios were launched.

    Why did AESE launch the studios?

    Allied Esports, among Fast Company’s 10 Most Innovative Companies, provides globally renowned properties, live events, and production services that elevate creators, competitions, and content. HyperX Esports Arena Las Vegas, AESE’s flagship venue and the world’s largest esports venue, as well as the first mobile 18-wheel arenas, are owned and operated by the company. North America, Europe, China and Australia are represented in the AESE Property Network, which is the first esports venue affiliate program in the world. It includes Fortress Melbourne, which has an international reputation.

    Allied Esports launched AE Studios this week as its original content development, storytelling, and production services division.

    • AESE recently launched AE Studios to assist partners who are interested in a turnkey solution outside of online tournament productions.
    • AESE has launched AE Studios to meet the needs of the entertainment industry beyond esports tournaments and broadcasts.
    • AESE will use AE Studios to design and produce digital-first projects for clients and partners across a variety of industries, including gaming, entertainment, pop culture, music, and sports.
    • Doing so, AESE leveraged its years of digital content creation, experienced global production team, and world-class facilities, including HyperX Esports Arena Las Vegas and its production studio in Hamburg, Germany.
    • The live production of CelebriTee Showdown on Twitch Sports is AE Studios’ first official project.
    • On the desktop and mobile versions of the game, streamers will compete from home while celebrity players compete on the virtual versions of golf courses from around the world.

    This is where AESE’s potential lies:

    With years as a professional esports organization, Allied Esports (AESE) is primed to deliver creative solutions outside of the realm of pure gaming competition, using professional, experienced, digitally-first production to deliver a compelling story. AESE’s AE Studios is poised to be a leading entertainment producer with its unique foundation, at a time when content is being used to reach ever-increasing audiences around the world.

  • Allied Esports Inc. (AESE) stock is soaring in current market trading. Here’s to know why:

    Allied Esports Inc. (AESE) stock is soaring in current market trading. Here’s to know why:

    Allied Esports Inc. (NASDAQ: AESE) stock rises by 4.31% during the current market trading session. Following this rise in stock, there is no recent news available. Through the strategic merger of two strong brands, Allied Esports and the World Poker Tour (WPT), Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a worldwide pioneer in esports entertainment, offering groundbreaking infrastructure, transformative live events, multiplatform content, and digital services to audiences worldwide.

    What is happening?

    Allied Esports, a subsidiary of Allied Esports Entertainment Inc. is known for its global recognition as an esports entertainment company has announced a three day esports event with Brookfield Properties that is also a big name in real estate business. The event is happening on March 26-28 at Brookfield’s First Colony Mall in Sugar Land, Texas.

    For the first time, Allied Esports is taking its famous “Saturday Night Speedway” presenting Mario Kart 8 Deluxe experience out of the desert and onto the streetsin which they are offering a chance for its fans to make their way to the top of the leaderboard which will help them win a paid trip to HyperX Esports Arena Las Vegas to compete on the main stage.

    Other recent events

    On March 16, AESE made an announcement about the revised proposal from Bally’s Corporation. AESE said that their Board of directors and the legal and financial advisors of AESE have concluded that the revised proposal comprises a “Superior Proposal” under Allied Esports’s pending stock purchase agreement with Element Partners, LLC.

    The revised plan calls for Bally to buy out all of the equity interests in Club Services, Inc. (“CSI”), which is an indirect wholly-owned subsidiary of Bally that is bound to manage Bally’s poker-related business and properties, including the companies that make up the World Poker Tour, for $90 million in cash at the closing.

  • Is Allied Esports Entertainment Inc.’s (AESE) fundamentals good enough to deliver an outperformance?

    Is Allied Esports Entertainment Inc.’s (AESE) fundamentals good enough to deliver an outperformance?

    The performance of AESE so far this year rests at 58.23%. Charts for the past week and month show a gain of 17.92% and 22.55% respectively for the stock’s price.

    Allied Esports Entertainment, Inc. (NASDAQ: AESE) offers audiences worldwide a transformative live experience with multiplatform content and interactive services thanks to its strategic merging of two powerful entertainment brands: Allied Esports International, Inc. (Allied Esports) and the World Poker Tour (WPT).

    Most recent Developments

    AJanuary 19, 2021, Allied Esports Entertainment, Inc. has disclosed a definitive agreement with Element Gaming under which the latter will acquire the Company’s poker-related assets, including the World Poker Tour entities.

    In accordance with the contract, World Poker Tour will be acquired by Element for a total of $78,250,000, comprised of a $68,250,000 upfront payment and a fully guaranteed 5 % revenue share of tournament entry fees on Element’s gaming platforms, reached a maximum of $10 million.

    January 13, 2021, Allied Esports a subsidiary of Allied Esports Entertainment, Inc. (NASDAQ: AESE) and HyperX made the news by renewing their exclusive name-rights agreement on their global flagship property, HyperX Esports Arena Las Vegas, located at the Luxor Hotel & Casino.

    December 17, 2020, Allied Esports, a subsidiary of Allied Esports Entertainment Inc., has partnered with Trovo to hold three $10,000 mobile esports tournaments featuring popular Battle Royale games– Fortnite, PLAYERUNKNOWN’S BATTLEGROUNDS (PUBG) Mobile and Call of Duty Mobile – starting December 20, 2020.

    Finally,

    Based on Wall Street broker comments on the expected price targets for this stock, we can see that 1 analyst have offered their price targets for AESE. The consensus price objective is $3.00. In the event that the share price goes down, analysts have set the share’s price value at $2.50, the high and a low, respectively. In addition, analysts believe Allied Esports Entertainment Inc.’s stock will trade at a discount of 1.50 in the next 12 months.