Brera (NASDAQ:BREA) stock is rising higher on Thursday following news of investor Dan McClory acquiring a majority stake in the European football club operator.
McClory, the executive chairman of Brera’s board of directors, has acquired another 4.55 million shares of BREA stock. That brings the investor’s total holdings in the company to 6.85 million shares.
With this latest stock purchase, McClory now holds a 54.5% stake in Brera. In addition to that, he holds securities that give him 83.7% of the company’s total votes.
Brera CEO Pierre Galoppi said the following about the investment news:
“This exciting development coincides with the welcoming of esteemed international business leaders to our Advisory Board, who not only support the Brera mission and understand the inimitable opportunities but are committed to enhancing our strategic capabilities to best position Brera for success.”
How This Affects BREA Stock Today
News of the enlarged stake in the company has shares experiencing heavy trading this morning. That has more than 4.4 million shares changing hands as of this writing. This is already well above the company’s daily average trading volume of about 767,000 shares.
BREA stock is up 128.4% as of Thursday morning.
There are more stock market stories worth diving into below!
We have all of the hottest stock market news worth reading about on Thursday! Among that is what has shares of Lytus Technologies (NASDAQ:LYT) stock rocketing higher, the biggest pre-market stock movers this morning and more. All of that news is ready to go 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.
