World Chess (LON:CHSS) Stock Price Down 25% – Should You Sell?

World Chess PLC (LON:CHSS)’s share price dropped 25% during mid-day trading on Monday . The stock traded as low as GBX 0.60 and last traded at GBX 0.60. Approximately 557,039 shares changed hands during trading, a decline of 66% from the average daily volume of 1,634,127 shares. The stock had previously closed at GBX 0.80.

World Chess Trading Down 7.7%

The firm has a market cap of £5.28 million and a price-to-earnings ratio of -0.95. The stock’s 50 day moving average is GBX 0.91 and its 200 day moving average is GBX 1.40.

Insider Buying and Selling

In other World Chess news, insider Ilya Merenzon sold 14,000,000 shares of World Chess stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of GBX 2, for a total value of £280,000. 44.27% of the stock is owned by corporate 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.