World Chess (LON:CHSS) Stock Price Down 10% – Should You Sell?

Shares of World Chess PLC (LON:CHSS) traded down 10% on Wednesday . The company traded as low as GBX 0.45 and last traded at GBX 0.45. 347,505 shares were traded during trading, a decline of 86% from the average session volume of 2,470,967 shares. The stock had previously closed at GBX 0.50.

World Chess Stock Performance

The firm has a market cap of £4.00 million and a price-to-earnings ratio of -0.71. The business has a fifty day simple moving average of GBX 0.64 and a 200-day simple moving average of GBX 0.98.

Insider Activity

In related news, insider Ilya Merenzon sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, January 19th. The shares were sold at an average price of GBX 1, for a total value of £30,000. 43.51% of the stock is owned by corporate insiders.

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.