Shares of World Chess PLC (LON:CHSS – Get Free Report) fell 22.3% on Monday . The company traded as low as GBX 1.50 ($0.02) and last traded at GBX 1.56 ($0.02). 3,122,661 shares traded hands during mid-day trading, an increase of 118% from the average session volume of 1,433,905 shares. The stock had previously closed at GBX 2 ($0.03).
World Chess Stock Performance
The stock’s fifty day moving average is GBX 1.47 and its two-hundred day moving average is GBX 2.91. The firm has a market cap of £13.68 million and a price-to-earnings ratio of -259.17.
Insider Transactions at World Chess
In related news, insider Ilya Merenzon bought 24,390,244 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased at an average price of GBX 3 per share, for a total transaction of £731,707.32. In the last three months, insiders have sold 22,340,000 shares of company stock valued at $67,020,000. Corporate insiders own 53.04% of the company’s stock.
World Chess Company Profile
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.
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