The eSports space has evolved at a remarkable pace over the course of the past few years and hence, it is no surprise that investors are increasingly looking into options in that sector. One of the companies that investors could consider tracking at this time is GGTOOR Inc (OTCMKTS:GTOR), one of the growing companies in the eSports sector.
GGTOOR, Announces Management Report for the Week Ended April 30, 2022
The stock was trading in a range on Tuesday but the company did announced that the deal that it had announced last week was progressing well. There had been worries about the possibility of significant dilution of the GGTOOR stock in case of the transaction going through.
However, on Tuesday, the company’s Chief Executive Officer John V Whitman Jr provided some reassurance to the shareholders yesterday. He noted that when the deal is eventually completed, the dilution for stock holders is going to be no more than 15,000,000 shares of the restricted common stock in GGTOOR. He described it as a small dilution and it was in accordance with the existing proposed structure at GGTOOR. That being said, it is going to be interesting to see if investors see it in the same light or not.
GTOR stock is trading above the 20-Day and 50-Day Moving averages of $0.0184 and $0.0195 respectively. However, the stock is trading below the 200-Day moving average of $0.0283.