World Chess (LON:CHSS) Shares Down 14.2% – Time to Sell?

World Chess PLC (LON:CHSS)’s stock price fell 14.2% during mid-day trading on Friday . The company traded as low as GBX 1.10 and last traded at GBX 1.12. 1,489,323 shares traded hands during trading, an increase of 1% from the average session volume of 1,478,646 shares. The stock had previously closed at GBX 1.30.

World Chess Price Performance

The stock has a market capitalization of £9.81 million and a P/E ratio of -1.77. The stock has a 50 day moving average price of GBX 1.46 and a 200-day moving average price of GBX 2.07.

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.