Justin Kenna, CEO of GameSquare stated, "On behalf of everyone at GameSquare and FaZe, we are thrilled to announce the successful culmination of our merger, marking a significant milestone in our journey to revolutionize the gaming and media landscape. This strategic alliance strengthens our position across global industries, amplifies our ability to connect brands with elusive and influential youth audiences, and unlocks even more opp's to support our partners with cutting-edge technology. Together, we will seek to redefine the future of esports and gaming by leveraging our combined expertise to pursue opportunities for growth and innovation. Our commitment remains unwavering as we aim to lead the way in shaping the ever-evolving intersection of gaming, media, and brand engagement."
#2. Two separate analysts provide $3.00 price targets for (Nasdaq: GAME).
Towards the end of 2024, two analysts suggested price targets of $3.00 for GameSquare.
From Friday's closing valuation, those targets suggest over 250% potential upside.
10/16/24 - Maxim Group initiates GameSquare with Buy rating 10/23/24 - Northland initiates coverage on GameSquare st-ock with Outperform rating
#3. (Nasdaq: GAME) has a relatively low float which means volatility potential could be significant.
According to Yahoo Finance, GAME has a float of approx. 26.99Mn shares.
Though I've profiled smaller floats, this amount of available shares is still capable of creating a volatile environment. Just take a look at GAME's 6-month chart to see all the different double-digit short term surges its put up since mid-2024.
#4. GameSquare Holdings Reports Record 2024 Third Quarter Results.
- Q3 2024 revenue increased 10% YoY vs proforma Q3 23 to a third-quarter record of $26.4Mn
- Q3 2024 adjusted EBITDA loss improves significantly vs YoY proforma Q3 2023 and QoQ Q2 2024 to $2.2Mn, demonstrating continued benefits of growth strategies and cost reduction initiatives
- GameSquare expects 2024 to be a record year with annual proforma revenue between $105 - $110Mn
Justin Kenna, CEO of GameSquare, stated, "GameSquare delivered strong third quarter fi-nan-cial results that were in line with our pre-announcement, and reflect the strategies underway to drive organic sales growth, complete the integration of our recent acquisitions, and build a pro-fit-able organization. On a sequential basis, I am encouraged by the 500 basis-point expansion in gross margin, the 11.1% reduction in operating expenses, and the $3.2Mn improvement in Adjusted EBITDA." -----
Coverage is officially initiated on GameSquare Holdings, Inc. (Nasdaq: GAME).
I'll be in touch with updates soon. Talk in a bit.
All the best, Dane James Editor Market Pulse Today
(Remember: St-ock Prices Could Be Significantly Lower Now From The Original Dates I Provided.) |
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