This News Could Trigger A Serious Bullish Action On MGT Capital Investments, Inc. (MGT)
Trade Idea: MGT Capital Investments, Inc. (NYSE: MGT)
MGT Capital Investments, Inc. (MGT), incorporated on January 12, 2007, through its subsidiaries, is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the social casino industry. The Company operates through two segments: Gaming and Intellectual Property. MGT’s gaming portfolio includes a social casino platform Slot Champ. It also includes minority stakes in the skill-based gaming platform MGT Play and fantasy sports operator DraftDay Gaming Group, Inc. (DDGG). The Company’s subsidiaries include Medicsight, Inc. (Medicsight), MGT Sports, Inc. (MGT Sports), MGT Studios, Inc. (MGT Studios) and MGT Gaming, Inc. (MGT Gaming).
Medicsight owns medical imaging software and has designed an automated carbon dioxide insufflation device on which the Company receives royalties from an international distributor. The software is designed to detect colorectal polyps during a virtual colonoscopy performed using computed tomography. MGT Sports holds a stake in DDGG, which operates a business-to-business operator of daily fantasy sports. DDGG supplies a full white-label solution that allows businesses to participate in the skill-based game market. DDGG also owns and operates the DraftDay.com platform in the United States. MGT Studios is publisher of social games and real money games of skill.
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For those savvy investors who like to dig further, the entire 8K is here for your perusal:http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?filingid=11369637&tabindex=2&type=html
I wouldn’t be surprised if we see a full media blitz with interviews and media dedicated to this story. Could this be just the beginning of a MGT rally?
This morning the company released very significant news that has rallied the company’s shares during premarket trading reaching a high of 0.72 for 100% gains from Friday’s close at 0.36.
Here is the news from 8:30 AM this morning:
John McAfee Returns to Public Markets as MGT Capital Agrees to Acquire Security/Privacy Technology
Mr. McAfee to be Chairman and CEO of renamed John McAfee Global Technologies
For those not familiar with Mr. McAfee:
“Mr. McAfee, the visionary pioneer of internet security, sold his anti-virus company to Intel for $7.6 billion, and is actively involved in the development of new measures to protect individual freedoms and privacy. Mr. McAfee stated, “The enormous impact of cybersecurity on our lives requires the scale and resources of a public company. Our ability to continue to hire the best minds in the business will be vastly enhanced with a public platform. With the acquisition of D-Vasive technology as a starting point, we expect to grow MGT into a successful and major force in the space.” MGT Capital also intends to change its corporate name to John McAfee Global Technologies, Inc.”
Click here for the full press release.
MGT is already up substantially on very noteworthy news developments as I write this email during premarket trading. Because I was asked by some of my audience to provide you with such higher volatility opportunities such as MGT during irregular trading hours (not 9:35 AM ET) I would like to note that this may continue to be extremely volatile during the remainder of today’s trading session (not just premarket trading), as a function of a small float and very powerful news – which could be a good thing for us. As always, please read my trading guidelines first and plan your trade/strategy before you enter and always use limit orders. Such trade ideas require active management rather than a “set it and forget it” mentality.