Shares of media company Eros STX Global (NYSE:ESGC) are rising on Wednesday with more than 17 million shares already trading hands today.
And while there appears to be no news regarding the firm, this is still a continuation of a longer-term recovery. Because Eros STX Global is a lesser-known company, let’s take a closer look at ESGC stock.
- Shares surpassed $2.50 for the first time since October.
- Additionally, 17 million shares trading hands already is impressive because that’s more than the total amount of shares traded each of the past two days.
- This is a major point in ESGC stock’s recovery after falling hard from its 2020 highs.
- In fact, shares are up 26% over the past month.
Moreover, not many people may know about Eros STX Global and its business. What is this company all about? And what does it do? Let’s dive in.
- The firm describes itself as a global entertainment company “delivering star-driven premium content to audiences across platforms worldwide.”
- It acquires, co-produces and distributes films, digital content and music on its handful of outlets.
- These include Eros Now, Eros Motion Pictures, Eros STX International, STX Films, STX Television and STX Alternative.
- The company was formed in July 2020 when Eros International and STX Entertainment merged.
- “The combination of one of the largest Indian OTT players and premier studio with one of Hollywood’s fastest-growing independent media companies has created an entertainment powerhouse with a presence in over 150 countries,” reads the firm’s website.
ESGC stock was up 5.4% as of Wednesday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.