One of the penny stocks NASDAQ: AESE rose 33.88% to $2.45 crossing $2 line in 2020. After rocketing stock price its total volume quickly jumped to 1,771,271 shares that are tenfold of the average volume of 95,055 shares.
Recently, the announced Q1 2020 report triggers AESE to create more rooms to develop ways in reducing the operating expenses.
Q1 2020 Financial Results of Allied Esports Entertainment Inc
Q1 revenue fell by $12 thousand quarterly but the cost of revenue shrank to $2,441,000 which is less than $3,340,000 of Q4 2019. Unfortunately, Q1 operating expenses caused a negative operating income of $8,094,000. In profit analysis, the company can get positive remarks as it maintains gross profit throughout several years.
The current market value of Allied Esports Entertainment is $66.953 million that overvalues the company while its total capitalization is $42,784,000 for Q1 2020.
Editor in Chief.
Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life