Good Gaming Inc (OTCMKTS:GMER) Stock Moves Near To 50 cents: A Bullish Sign?
In recent times, the Good Gaming Inc (OTCMKTS:GMER) stock has been in focus among plenty of investors and managed to record handsome gains at different points of time. On Friday, the stock made another massive move after Good Gaming announced that it signed another key partnership.
As investors piled on to the stock in a big way on Friday, the stock soared by as much as 65% and it is likely to stay in focus among investors this week as well. The company revealed that it struck up a partnership with the NFT (non-fungible token), blockchain technology, and cryptocurrency company Blockchain App Factory. As per the terms of the partnership, Blockchain App Factory is going to help the company with the development of the brand and the marketing efforts related to the game MicroBuddies.
Good gaming is going to launch this game at some point in the third quarter of 2021 and the news of the partnership seems to have come as a source of considerable excitement for investors. Considering the gains made by the stock following the announcement of the partnership, it could be a good idea to take a closer look at Blockchain App Factory.
The company is one of the pioneers in the blockchain business development sector and has been in business since as far back as 2017. In addition to that, it has worked with some of the biggest names across the world like Shell Oil Corporation and Econet Global among others. Investors could consider adding the Good Gaming stock to their watch lists at this point.
Why Is Good Gaming Inc (GMER) Stock Making So Buzz Over The Past Month?
Approval for a stock uplisting can come as a major boost for most stocks and that is what seemed to have happened with the Good Gaming Inc (OTCMKTS:GMER) stock last week. Back on July 7, the Chief Executive Officer of the company David B. Dorwart announced that the OTC Markets approved the uplisting of the Good Gaming stock to the OTCQB from pink sheet current.
That is a significant development for the company and its stock; hence it came as no surprise that investors piled on to the stock in a big way last week. On Friday, the stock shot up by 56% and ended the week with gains of 200%. In light of such enormous gains, it could be a good idea for investors to keep the stock on their watch lists this week.
An uplisting from pink sheet current to OTCQB is an important one for any company. Companies that are listed OTCQB are in the middle tier of stocks in the over-the-counter markets and are subject to must tougher minimum reporting standards. In addition to that, those companies need to go through annual verifications and undergo a bid test.
Hence, it is easy to see why investors might have more confidence in getting into these stocks when it comes to over-the-counter shares. The CEO stated that since the company is currently looking to get as transparent as possible, the board of directors decided that an uplisting was in the best interests of the company.