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Tag: ESGC

  • Eros STX Global Corporation (ESGC) plunged in the after-hours; here is why?

    Eros STX Global Corporation (ESGC) plunged in the after-hours; here is why?

    Eros STX Global Corporation (ESGC) plunged in the after-hours when the company announced that its Board of Directors had approved the reverse stock split of its common stock. ESGC values at $0.22, losing more than 23% from the previously closed value. The stock closed at $0.29 in the previous trading session. The stock volume traded in the last trading session was around 7.46 million shares.

    The reverse stock split of ESGC common stock

    The Board of Directors of Eros STX Global Corporation (ESGC) approved a one-for-twenty reverse stock split of its existing A and B ordinary shares. It will take effect at 5:00 p.m. Eastern Time on February 7, 2022, and the Company’s A common shares will trade post-split on February 8, 2022.

    ESGC’s A common shares will keep trading on the NYSE under the ticker ESGC. The Reverse Stock Split expects to enhance the market price per share of the Company’s ordinary shares. The aim is to recover compliance with the NYSE’s minimum trading price criteria.

    It reduces A ordinary shares from 357.3 million to 17.9 million, and B common stock shares from 21.7 million to 1.1 million. The Reverse Stock Split will not affect the common shares’ rights or preferences but will adjust the par value per share proportionally.

    The Reverse Stock Split will not issue fractional shares. A reverse split happens when the intraday volume-weighted average price (VWAP) for the Company’s A ordinary shares on the NYSE for five trading days preceding the Effective Date averages over a fraction of one share. Computershare Trust Company will serve as the reverse stock split’s exchange broker.

    The effect of Reverse Stock Split on the ESGC stock

    Eros STX Global Corporation (ESGC) was down as soon as the news got public. The company was expecting that the reverse stock split would help them regain value to meet the compliance with NYSE. But the decision to reverse stock backfired. Most of the traders trade in the regular session, due to which the stock is volatile in the after-hours.

    Conclusion

    Eros STX Global Corporation (ESGC) stock is on edge. The company is trying hard to meet the compliance with NYSE or it effects its continuation of listing in the market,

  • Eros STX Global Corp. (ESGC) stock’s Bullishness Continues into After Hours

    On January 26, 2022, Eros STX Global Corp. (ESGC) stock added a good 30.24% during the regular trading session. The stock continued this bullishness into the after-hours but on a much calmer note.

    After trading between $0.2630 and $0.4100, ESGC stock closed the regular session at $0.3674. Hence, adding $0.0853 at a heavy volume of 20.38 million shares on Wednesday. The stock added a further 8.85% in the after-hours at $0.3999 with 1.02 million shares exchanging.

    More about ESGC and its Movement

    Based in Burbank, CA, Eros STX Global Corp. along with the distribution of premium content also develops and produces it. Currently, the company has a market capitalization of $106.9 million and 207.02 million shares outstanding.

    The ESGC stock has been on an uptrend for the past few days. On Wednesday investors flocked towards the stock to make it trade at 344% of its average volume. The stock made huge gains during the regular session, followed by some more gain in the after-hours. There is no recent official announcement, SEC filing, or report of any upcoming event. Hence, the stock seems to have gained on external factors and social media chatter.

    Overall, 2022 has proved fruitful for ESGC, as it has gained a huge 53.27% year to date. Comparatively, the stock suffered a mammoth loss of 81.81% last year.

    Definitive Agreement with The Najafi Companies

    On December 07, the company disclosed a definitive agreement for the sale of its subsidiary, STX Entertainment. Therefore, for the sale of STX Entertainment, ESGC entered into a definitive agreement with an affiliate of The Najafi Companies.

    The Najafi Companies which is a private investment company has notable holdings in various segments like consumer, media, eCommerce, tech, etc.

    As per customary requirements, the closing purchase price for the transaction would be $173 million. Furthermore, Najafi funded a deposit of $2 million for the transaction.

    According to the agreement, the company has a go-shop period of 45 days for soliciting other proposals. Additionally, a termination fee of $4.5 million was also set in the agreement.

    In addition, a transaction with either Najafi or alternatives is expected to close at the end of January 2022.

    ESGC’s Other News

    On November 2, ESGC’s Eros Now entertainment platform launched Bollywood Film Festival on Facebook Watch. The dewali-oriented month-long film festival streamed from November 3 to December 2, 2021, with one movie premiered each day. Powered by the blockchain-based video streaming application, Mzaalo, the movies were streamed on Eros Now’s Facebook page.

  • ErosSTX Inc. (ESGC) stock rises by 23.21% in pre-market trading. Let’s find out why?

    ErosSTX Inc. (NASDAQ: ESGC) stock gained by 4.19% in the last trading close whereas the ESGC stock rises by 23.21% during the pre-market trading session. Any recent news does not follow the rise in ESGC stock price. Eros STX is an entertainment company that deals with the production and distribution of films, digital content, and music to various platforms like theatre, television, and OTT digital media streaming and also to other consumers globally.

    Recent Developments

    • Eros STX, on March 8 announced that an entertainment platform Eros Now, owned by ErosSTX has signed a collaboration with Google cloud. In this collaboration ESGC will use its Artificial intelligence technology for streaming the complete range of Eros Now movies and originals along with the subtitles. Eros Now which is already a well-known digital OTT South Asian entertainment platform has now become the first ones to provide global streaming service with the help of google cloud technologies. Through this step, ErosSTX has managed to modify the previously manual workflow.
    • Another recent positive development for Eros STX is that ESGC along with Amazon Prime has finalized a multi-year first window outputdeal in the Nordics. This announcement was made on March 1, and the deal was effective immediately after that. This agreement builds on ESGC and Amazon prime’s existing multi-territory output partnership, which they signed in the United Kingdom, France, and Italy in 2020.The majority of STX films will continue to be released theatrically in the Nordics by SF Studios, with Amazon Prime Video distributing them in the Pay 1 window throughout the region in Sweden, Denmark, Norway, and Finland. SF Studios and STX recently extended their long-standing output deal, which was first signed in 2015.

    Conclusion

    Following the recent development in ESGC, it is highly possible that the rise in ESGC stock price is due to these recent positive events that happened in ErosSTX. The progressive steps taken by ErosSTX would have definitely gained the attention of investors towards ESGC stock.

  • 20 Trending Stocks In Entertainment Industry

    20 Trending Stocks In Entertainment Industry

    The entertainment industry is considered to be one of the fastest industries in the world. This industry is the most proactive one in enhancing itself for digital changes in the coming years. Users are the one who creates demands for the products and viewers are the one who creates demands in the entertainment industry. The entertainment industry is experiencing various challenges.

    One of the biggest challenges is the increased pressure to enhance the experience of the customers. Changes in the demand of consumers are putting pressure on the entertainment industry to adopt new technological advancements. Let’s take a quick look at the top 20 leading companies in the entertainment industry to check how they are responding to the needs of their customers:

    AMC Entertainment Holdings Inc. (NYSE: AMC)

    AMC Entertainment Holdings Inc. (NYSE: AMC) last closed at $4.05, in a 52-week range of $1.95 to $10.35. Analysts have a consensus price target of $4.14. AMC Entertainment Holdings Inc. (AMC) earlier revealed that 14 AMC locations in the state of Washington will start operations on Friday, October 16. Washington is the 43rd state out of the 45 U.S. states served by AMC in which AMC will have a theatre that is open for moviegoers.

    The Liberty Braves Group (NASDAQ: BATRA)

    The Liberty Braves Group (BATRA) stock soar by 0.58% to $22.58. The most recent rating by The Benchmark Company, on December 17, 2019, is at a Buy. The Liberty Braves Group (BATRA) is scheduled to host a conference call to discuss results for the third quarter of 2020 on Thursday, November 5th. The Liberty Braves Group (BATRA) market cap has remained high, hitting $22.24 billion at the time of writing.

    The Liberty Braves Group (NASDAQ: BATRK)

    The Liberty Braves Group (NASDAQ: BATRK) Shares headed falling, lower as much as -0.49%. The Liberty Braves Group (BATRK) has disclosed earlier that Stefano Domenicali will take the role of President and CEO of Formula 1 in January 2021. Chase Carey, the current Chairman, and CEO will move to the role of non-executive Chairman. This company has a total market capitalization of $887.64 million at the time of writing.

    Charter Communications Inc. (NASDAQ: CHTR)

    Charter Communications Inc. (NASDAQ: CHTR) rose 1.04% after gaining more than $6.56 on Friday. Charter Communications Inc. (CHTR) has revealed earlier that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. have priced $1.5 billion in aggregate principal amount of senior unsecured notes due 2032.

    Cinedigm Corp. (NASDAQ: CIDM)

    Cinedigm Corp. (NASDAQ: CIDM) last closed at $0.57, in a 52-week range of $0.25 to $6.00. Cinedigm Corp. (CIDM) disclosed earlier that it has signed a digital content partnership with Kanopy, a premium, a free-to-the-user streaming platform available through partnered universities and libraries. Available to Kanopy users nationwide starting October 1, the content agreement offers 24 of Cinedigm’s esteemed films from genres spanning across documentaries to comedies and horror.

    Comcast Corporation (NASDAQ: CMCSA)

    Comcast Corporation (NASDAQ: CMCSA) stock drop by -0.99% to $44.85. The most recent rating by The Benchmark Company, on September 22, 2020, is at a Buy. Comcast Corporation (CMCSA) earlier announced that it has achieved a 10G technical milestone in a trial delivering 1.25 gigabit-per-second (Gbps) upload and download speeds over a live production network using Network Function Virtualization (NFV) combined with the latest DOCSIS Technology.

    Cinemark Holdings Inc. (NYSE: CNK)

    Cinemark Holdings Inc. (NYSE: CNK) Shares headed falling, lower as much as -3.88%. The most recent rating by The Benchmark Company, on August 20, 2020, is at a Buy. Cinemark Holdings Inc. (CNK) disclosed that it is meeting spooktacular demand by giving away an additional 1,000 Halloween Private Watch Parties after its initial wave were all claimed spellbindingly fast, within 13 minutes.

    The Walt Disney Company (NYSE: DIS)

    The Walt Disney Company (NYSE: DIS) rose 1.54% after gaining more than $1.89 on Friday. The Walt Disney Company (DIS) has earlier celebrated the Return of Frozen Fan Fest With the announcement of the First-ever Frozen Virtual Playdate. This year, the highlight of Frozen Fan Fest will be an engaging Virtual Playdate hosted by chef, two-time New York Times best-selling author, entrepreneur, television host, and producer, Ayesha Curry, that will air on October 18

    Discovery Inc. (NASDAQ: DISCA)

    Discovery Inc. (NASDAQ: DISCA) last closed at $22.24, in a 52-week range of $17.12 to $33.65. Analysts have a consensus price target of $24.57. Discovery Inc. (DISCA) has earlier expanded its relationship with  Magnite (NASDAQ: MGNI), the world’s largest independent omnichannel sell-side advertising platform, in support of its leading real-life entertainment streaming service, display platform, to maximize programmatic advertising capabilities.

    DISH Network Corporation (NASDAQ: DISH)

    DISH Network Corporation (NASDAQ: DISH) Shares headed falling, lower as much as -0.91%. The most recent rating by BofA/Merrill, on March 12, 2020, is at a Buy. DISH Network Corporation (DISH) has previously revealed that it has chosen inventory and service order management software from Blue Planet, a division of Ciena, to intelligently automate its 5G wireless network.

    Genius Brands International Inc. (NASDAQ: GNUS)

    Genius Brands International Inc. (NASDAQ: GNUS) rose 8.53% after gaining more than $0.11 on Friday. The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of GNUS, FENC, and CLNC. This company has a total market capitalization of $282.51 million at the time of writing.

    Eros STX Global Corporation (NYSE: ESGC)

    Eros STX Global Corporation (NYSE: ESGC) stock drop by -3.42% to $2.54. Eros STX Global Corporation (ESGC) has earlier announced that STXfilms has acquired worldwide rights to the film adaptation of the novel Every Note Played. Oscar® winners Angelina Jolie and Christoph Waltz are in talks with the studio and attached to star in the film.

    fuboTV Inc. (NYSE: FUBO)

    fuboTV Inc. (NYSE: FUBO) Shares headed falling, lower as much as -1.85%. fuboTV Inc. (FUBO) has announced the upsize and pricing of an underwritten public offering. The size of the offering has been increased from the previously announced 15,000,000 shares to 18,300,000 shares of common stock at a price to the public of $10.00 per share.

    Glory Star New Media Group Holdings Limited (NASDAQ: GSMG)

    Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) last closed at $2.82, in a 52-week range of $1.46 to $11.53. Glory Star New Media Group Holdings Limited (GSMG) earlier disclosed that it has released its White Paper on China’s Video Content-Driven E-Commerce Industry produced by iResearch Consulting Group and commissioned by Glory Star.

    Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV)

    Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) Shares headed rising, higher as much as 5.26%. Hall of Fame Resort & Entertainment Company (HOFV) in conjunction with its partnership with the NFL Alumni Association today revealed its plans to include a Football Diversity Development program as part of its Academy effort.

    Allied Esports Entertainment Inc. (NASDAQ: AESE)

    Allied Esports Entertainment Inc. (NASDAQ: AESE) shares were trading up 6.40% at $1.33 at the time of writing on Friday. Allied Esports Entertainment Inc. (NASDAQ: AESE) share price went from a low point around $0.40 to briefly over $5.94 in the past 52 weeks, though shares have since pulled back to $1.33. AESE market cap has remained high, hitting $40.01M at the time of writing, giving it a price-to-sales ratio of more than 1. If we look at the recent analyst rating AESE, Stephens initiated coverage on AESE shares with an Overweight rating.

    Discovery Inc. (DISCK)

    Discovery Inc. (DISCK) stock drop by -2.47% to $19.97. The most recent rating by Topeka Capital Markets, on April 25, 2016, is at a Hold. Discovery Inc. (DISCK) share price went from a low point around $15.43 to briefly over $31.20 in the past 52 weeks, though shares have since pulled back to $19.97.

    Dolby Laboratories Inc. (NYSE: DLB)

    Dolby Laboratories Inc. (NYSE: DLB) fall -0.31% after losing more than -$0.21 on Friday. Dolby Laboratories Inc. (DLB) share has changed between the 52-weeks low range of $44.68 and a high range of $73.94. It has moved up 53.31% from its 52-weeks low and moved down -7.36% from its 52-weeks high. This company market capitalization has remained high, hitting $6.91 billion at the time of writing.

    Dolphin Entertainment Inc. (NASDAQ: DLPN)

    Dolphin Entertainment Inc. (DLPN) last closed at $0.73, in a 52-week range of $0.33 to $2.49. Dolphin Entertainment Inc. (DLPN) has moved up 122.98% from its 52-weeks low and moved down -70.73% from its 52-weeks high. This company market capitalization has remained high, hitting $23.69 Million at the time of writing.

    Hemisphere Media Group Inc. (NASDAQ: HMTV)

    Hemisphere Media Group Inc. (NASDAQ: HMTV) stock drop by -0.43% to $9.25. The most recent rating by Wells Fargo, on October 14, 2019, is at an Outperform. Hemisphere Media Group Inc. (HMTV) market capitalization has remained high, hitting $371.20 million at the time of writing.