GMGI Stock Summary and Trading Ideas (Golden Matrix Group | NASDAQ:GMGI)

Golden Matrix Group Inc is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label social gaming platforms for its international customers, located in the Asia Pacific region. The company operates in two reportable segments; B2B and B2C. The B2C segment earns majority revenue. The company operates in UK, Asia Pacific and Latin America. It offers configurable and scalable iGaming platforms and operate some of the industry's iconic brands, including MexPlay, R Kings Competitions and GM-AG.

Golden Matrix Group trades on the NASDAQ stock market under the symbol GMGI.

As of November 8, 2024, GMGI stock price declined to $2.73 with 90,281 million shares trading.

GMGI has a beta of 0.47, meaning it tends to be less sensitive to market movements. GMGI has a correlation of 0.00 to the broad based SPY ETF.

GMGI has a market cap of $351.58 million. This is considered a Small Cap stock.

The top ETF exchange traded funds that GMGI belongs to (by Net Assets): IWM, VXF, IWO, VTWO, IWC.

GMGI has underperformed the market in the last year with a return of +8.8%, while SPY returned +38.4%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in GMGI shares. However, GMGI has outperformed the market in the last 3 month and 2 week periods, returning +23.0% and +23.0%, while SPY returned +13.1% and +3.3%, respectively. This indicates GMGI has been having a stronger performance recently.

GMGI support price is $2.64 and resistance is $2.94 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GMGI shares will trade within this expected range on the day.