World Chess (LON:CHSS) Trading Down 10% – Should You Sell?

World Chess PLC (LON:CHSS)’s stock price fell 10% during trading on Tuesday . The stock traded as low as GBX 0.40 and last traded at GBX 0.45. 28,031 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 3,419,533 shares. The stock had previously closed at GBX 0.50.

World Chess Stock Performance

The stock has a fifty day simple moving average of GBX 0.72 and a two-hundred day simple moving average of GBX 1.10. The stock has a market cap of £3.69 million and a PE ratio of -0.67.

Insider Buying and Selling at World Chess

In related news, insider Ilya Merenzon sold 3,000,000 shares of the company’s stock in a transaction on Monday, January 19th. The shares were sold at an average price of GBX 1, for a total value of £30,000. Insiders own 44.27% of the company’s stock.

World Chess Company Profile

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.