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      Is Anything Boosting MGAM Stock In Today's Trading?

      By Fahim Awan

      Published on

      August 1, 2023

      4:56 PM UTC

      Is Anything Boosting MGAM Stock In Today's Trading?

      Mobile Global Esports Inc. (NASDAQ: MGAM) is making waves in the current market trading, with its shares surging by an impressive 43.84% to reach $0.74. The momentum seems to be favoring MGAM as it gained 5.18% and closed the previous Monday session at $0.5259.

      Mobile Global (MGAM), also known as MOGO, recently formed a strategic alliance with INFINITY, a prominent esports entity in Central and South America.

      The primary goal of this partnership is to solidify and expand MGAM’s presence in the gaming industry, specifically targeting the Latin American and Brazilian markets. The collaboration also opens the door for potential expansion into other untapped markets.

      Under this partnership, Mobile Global will play a crucial role in elevating the stature and organization of gaming events, especially the highly regarded INFINITY Play events. Additionally, Mobile Global’s contributions will be instrumental in the growth and establishment of Infinity Gaming Centers throughout Latin America.

      MOGO’s commitment extends beyond mere business objectives, as it seeks to inspire esports enthusiasts by empowering them with the necessary resources to cultivate talented athletes and foster a continuously expanding fan base.

      The alliance is equally significant for INFINITY, which views MGAM’s arrival in Latin America and Brazil as a milestone achievement.

      It presents a substantial investment for INFINITY, enabling them to connect with the younger audience through various avenues, such as content, events, and the establishment of new retailers across the continent.

      India holds a pivotal role in Mobile Global’s operations, operating within one of the largest esports markets. The company holds licensed agreements with over 100 major universities and has secured exclusive rights, through the Association of Indian Universities (AIU), to produce the national esports championship for its 854 member universities.

      Considering India’s status as the largest English-speaking country globally and the third-largest economy in Asia, its current 2.1% representation in global consumption indicates significant potential for growth. Experts predict that within the next three decades, India will ascend to become the world’s third-largest economy, trailing only China and the United States.

      The esports industry’s growth in India is unprecedented, with market revenues projected to soar to an impressive USD$1.62 billion by 2024. Moreover, the global live-streaming audience for esports events is expected to grow at an annual rate of 7.7%, surpassing 500 million viewers in 2022 and reaching a staggering 577.2 million viewers in 2024.

      Further strengthening its position in the esports community, Mobile Global (MGAM) recently earned the distinction of becoming an Official Event Partner for the prestigious Mobies awards ceremony.

      During this inaugural event held in Los Angeles on July 14th, MGAM presented the Mobile Esports Tournament of the Year award, which celebrated an exceptional event organized for Mobile players, showcasing excellence in production and promotion.

      This recognition underscores MGAM’s growing prominence and dedication to fostering excellence within the esports realm.

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