GigaMedia (GIGM) Extends Rally in a Weak Market: More To Come?

In recent times, media and entertainment companies have had a fairly good time in the stock markets and one such stock that could be tracked by investors at this point is that of GigaMedia Limited (NASDAQ: GIGM).

The company, which is based out of Taiwan, is engaged in delivering digital entertainment in Hong Kong and Taiwan. Although there was no news about the company on Wednesday, the GigaMedia stock soared by as high as 9% in the premarket trading period today. This was after the stock had already recorded gains of 30% yesterday.

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In such a situation, it is perhaps a better idea to take a closer look at the company’s business. GigaMedia has a wide range of popular digital properties and some of its more popular offerings include mobile as well as browser-based games. On the other hand, GigaMedia didn’t do too badly on the financial front in the third quarter either. In Q3 2020, the company generated revenues of as huge as $2.03 million to go along with a gross profit of $1.20 million. The net loss for the period came in at $0.25 million.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.