World Chess (LON:CHSS) Shares Up 40% – Here’s What Happened

World Chess PLC (LON:CHSS)’s stock price was up 40% on Monday . The company traded as high as GBX 0.70 and last traded at GBX 0.70. Approximately 7,481,125 shares were traded during mid-day trading, an increase of 75% from the average daily volume of 4,273,085 shares. The stock had previously closed at GBX 0.50.

World Chess Stock Up 40.0%

The company has a market capitalization of £6.16 million and a price-to-earnings ratio of -1.11. The business’s 50-day moving average is GBX 0.87 and its 200-day moving average is GBX 1.35.

Insider Buying and Selling

In other World Chess news, insider Ilya Merenzon sold 14,000,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of GBX 2, for a total value of £280,000. 44.27% of the stock is currently owned by company insiders.

About World Chess

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and International Chess Federation (‘FIDE’) official commercial partner.

The Company’s vision is to build a global, leading intellectual sports brand by reinventing chess for the modern consumer. World Chess intends to do this by becoming the leading platform for the global chess community through online, in person and hybrid chess events and activities, and by providing complementary product offerings to players, spectators, and partners through its ecosystem, which is made up of the following pillars.

FIDE Gaming Platform

World Chess runs FIDE Chess Arena, the exclusive official gaming platform of FIDE and has the official rights to offer its players the official ratings and titles, recognised by FIDE.

Events and Competitions

The Company is experienced in organising events and competitions to promote the sport including the organisation of three World Chess Championship matches.

Recently, World Chess developed and launched the Armageddon Series, the chess league for prime-time television.