The esports sector has grown in importance among investors in recent years due to the rapid growth that has been seen in that space. Nowadays there are plenty of options for investors looking for esports stocks and one of those is perhaps the OverActive Media (OTCMKTS:OAMCF) stock.
Market Reaction
On Thursday, OAMCF stock ended flat at $0.9531 with 100 shares, compared to its average volume of 429 shares. The stock has moved within a range of $0.9531 – 0.9531 after opening trade at $0.9531.
OverActive Media’s Performance Venue Approved by Toronto City Council
The company is one of the leaders in the worldwide entertainment and esports industry. However, the company’s stock has been an underperformer over the course of the past month and tanked by as much as 16%. In this situation, it may be a good idea to figure out if the decline in the stock could in fact be an opportunity for investors.
As a matter of fact, the company was in the news on Thursday after it announced that it had managed to secure the lease terms in relation to some performance venues from the Toronto City Council.
It was a major development for the company since after securing the lease terms, OverActive Media managed to complete the final review and approvals from the authorities. While it is true that it did not lead to a recovery in the stock, it might still be a good move to keep an eye on the OverActive Media stock.
Key Quote
“Over the past year, we have worked incredibly hard to get phase one of our performance venue project over the finish line and there’s no slowing down now. We’re fortunate to have such great partners in the city who share our vision to build a preeminent venue for today’s generation of fans, one that will truly benefit the city of Toronto and its many sports and entertainment fans for years to come,” said Chris Overholt, President and CEO, OverActive Media.
