Super League Gaming (NASDAQ:SLGG) stock is flying high on Monday as investors pile in on a recent metaverse move.
Let’s jump into that news below with all the details potential SLGG stock investors need to know!
- First off, it’s worth noting that the news moving SLGG stock higher today is actually around a month old.
- The company acquired metaverse ad company Bloxbiz near the beginning of October.
- This company focuses on offering ads in metaverse environments with its initial rollout being Roblox (NYSE:RBLX).
- However, interest in the metaverse over the last few days has reignited interest in this news.
- That includes users on social media pointing out the deal today and the potential it brings to SLGG stock.
- So why exactly are traders caring so much about the metaverse lately?
- It all has to do with Facebook (NASDAQ:FB) announcing a brand change last week.
- The social media company is changing its name to Meta as it goes full-in on the metaverse.
- With a big name like Facebook taking the metaverse seriously, investors are taking notice.
- This has plenty of metaverse-related assets on the rise lately.
- Decentraland (CCC:MANA-USD) is seeing this today with a rising price, and Meta Materials (NASDAQ:MMAT) also jumped on name confusion.
- Considering that, it makes sense that investors would take extra interest in Super League Gaming’s recent Bloxbiz acquisition.
The extra attention on SLGG stock today has it experiencing heavy trading. As of this writing, more than 9 million shares have changed hands. That’s an impressive increase over its daily average trading volume of about 373,000 shares.
SLGG stock is up 26% as of Monday afternoon.
Investors looking for all the latest stock coverage will want to stick around!
InvestorPlace has you covered with daily our deep dives into the space. A few examples include movie stocks gaining today, loanDepot (NYSE:LDI) stock on the move, and Plug Power (NASDAQ:PLUG) shares rising higher. You can learn all about these topics at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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