World Chess (LON:CHSS) Trading Down 14.3% – What’s Next?

World Chess PLC (LON:CHSS) shares traded down 14.3% on Tuesday . The stock traded as low as GBX 0.60 and last traded at GBX 0.60. 425,000 shares traded hands during trading, a decline of 87% from the average session volume of 3,157,800 shares. The stock had previously closed at GBX 0.70.

World Chess Stock Down 14.3%

The stock has a market cap of £5.28 million and a PE ratio of -0.95. The business’s 50-day simple moving average is GBX 0.81 and its 200-day simple moving average is GBX 1.26.

Insider Buying and Selling

In other World Chess news, insider Ilya Merenzon sold 14,000,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of GBX 2, for a total value of £280,000. 44.27% of the stock is owned by insiders.

About World Chess

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.