Super League Gaming (NASDAQ:SLGG) stock is soaring higher on Tuesday despite a lack of news from the competitive gaming company.
That increase in prices comes alongside heavy trading of SLGG stock. This has resulted in more than 11 million shares of the stock changing hands as of this writing. That’s a massive spike compared to its daily average trading volume of 1.21 million shares.
So why exactly is SLGG stock up on Tuesday? It likely has to do with Maxim initiating coverage of the stock yesterday. That saw analyst Allen Klee hit it with a buy rating and price target of $6 per share. That price target represents a roughly 45% premium over the stock’s current price.
Keeping all of that in mind, here’s everything potential investors in SLGG stock need to know about the company.
- Super League Gaming is a California-based company focused on offering gaming services to users.
- That includes connecting gamers with each other across its variety of services.
- Among these are live-streams, highlights, and other forms of social media interaction.
- The company is also behind several gaming clubs that support the competitive gaming scene.
- Super League Gaming is led by chairman, president and CEO Ann Hand.
- David Steigelfest serves as the chief platform officer of the company and is also its co-founder.
- Steigelfest’s history includes working on several media brands and tech companies and he brings more than 20 years of experience with him.
SLGG stock was up 20.2% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.