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Summary
- Score Media and Gaming Inc (TSX:SCR) debuted on the Nasdaq exchange on Thursday, February 25.
- Its stocks secured a 14 per cent jump to close at US$ 30.88 on its first trading day.
- On TSX, Score Media stocks dwindled by over six per cent on Thursday.
Stocks of Canadian sports- focused company Score Media and Gaming Inc (TSX:SCR) have leveled up with a brand new Wall Street listing. The gaming stock debuted on the Nasdaq exchange on Thursday, February 25, and secured a 14 per cent jump to close at US$ 30.88 on its first trading day.
On TSX, meanwhile, Score Media stocks were down by about six per cent on Thursday.
Let’s dive in to find out more about Score Media’s Nasdaq debut and the company on general.
Score Media’s NASDAQ Launch
Score Media and Gaming, a sports-oriented digital media and betting services provider, is primarily known for its international betting app, theScore. It started, however, as this small firm back in 1994 under the original name of ‘ScoreScope’, which was then acquired by Canadian telecom giant Rogers Communications Inc in 2012. As founder John Levy retained the rights of its digital assets under subsidiary Score Media, the company slowly expanded to become what it is today.
With its plans to debut on Nasdaq, Score Media announced on Wednesday that its marketed public offering saw the purchase of 6 million shares at a price of US$ 27 apiece. The offering, Score Media said, generated total gross proceeds of about US$ 162 million.
The offering size shared on Wednesday was an increase from the previously announced figure of 5 million.
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Score Media on TSX
Score Media’s stocks graduated to the senior trading platform of Toronto Stock Exchange (TSX) from TSXV in October last year. The scrips are currently trending high amid top communication companies on the TSX.
In the last one year, its share have inflated by nearly 422 per cent.
The gaming stock also secured a growth of over 349 per cent over the past three months and that of nearly 137 per cent this year. In February to date, it grew by about 21 per cent.
Score Media stocks post a debt-to-equity ratio of 1.8 and a price-to-book ratio of 84.5, as per TMX data. Its current market cap stands at C$ 1.54 billion.
