World Chess (LON:CHSS) Trading 10.5% Higher – Here’s Why

World Chess PLC (LON:CHSS) was up 10.5% during trading on Wednesday . The company traded as high as GBX 0.48 and last traded at GBX 0.48. Approximately 4,188,466 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 3,306,733 shares. The stock had previously closed at GBX 0.43.

World Chess Stock Performance

The firm has a market capitalization of £4.44 million and a PE ratio of -0.79. The business’s fifty day simple moving average is GBX 0.69 and its 200-day simple moving average is GBX 1.05.

Insiders Place Their Bets

In other World Chess 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 value of £30,000. Insiders own 43.51% of the company’s stock.

About World Chess

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.