World Chess (LON:CHSS) Shares Down 10% – Time to Sell?

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

World Chess Trading Down 10.0%

The business’s 50-day simple moving average is GBX 0.64 and its two-hundred day simple moving average is GBX 0.98. The firm has a market cap of £4.00 million and a price-to-earnings ratio of -0.71.

Insider Buying and Selling at World Chess

In related news, insider Ilya Merenzon sold 3,000,000 shares of World Chess stock in a transaction on Monday, January 19th. The shares were sold at an average price of GBX 1, for a total transaction of £30,000. 43.51% of the stock is currently owned by company 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.