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Here’s What you Should Know About Climbing Premarket Stock of Allied Esports Entertainment Inc. (AESE)

Allied Esports Entertainment Inc. (AESE) is a leading company engaged in the entertainment and esports business internationally. The company operates properties to connect the fans with their star players. The company also owns a studio for streaming different gaming events. A mobile esports truck also belongs to the company serving as a battleground and content generator. The company also operates a brand and music licensing business.

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The price of AESE stock during the regular trading on January 10, 2022, was $1.91 with a significant increase of 3.24%. At last check in the premarket on January 11, 2022, the stock further climbed by 2.09%.

AESE: Events and Happenings

On January 3, 2022, AESE reported about its engagement with the Benchmark Company which will serve as the Company’s sole financial advisor in relation to a possible business merger transaction. On December 20, 2021, AESE reported about the appearance of Allied Esports Truck at the 86th Goodyear Cotton Bowl Classic during its College Football Playoff Semifinal.

AESE: Key Financials

On November 22, 2021, AESE reported its financial results for the third quarter ended September 30, 2021. Some of the important features are as follows

Revenue and Assets

Total revenue generated was $1.7 million for Q3 2021 and it increased 182% as compared to the same quarter of 2020 when the revenue was $0.59 million. Total Current assets for the company for Q3 2021 were $101.5 million.

Net Income/Loss

Net income for the third quarter 2021 was $74.3 million as compared to net loss of $6.5 million for the prior year period.

On November 9, 2021 AESE reported that one of its subsidiary produced livestreaming of first of its kind UNO Championship Series Invitational Tournament which was presented by Mobil 1 held on November 11, 2021. On October 14, 2021 AESE reported about the immediate adjournment of its Annual Meeting of stockholders on October 14 due to the non-presence of quorum.

Conclusion

AESE stock is 13% down the past six months yet is outperforming in the current market conditions. The current premarket rise of the stock is due to uncertain market conditions. Although the pandemic has hit the economy hard but still AESE stock is gaining momentum because of strong policies of the company. Analysts are predicting a good year ahead for the company.

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