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 September 19, 2024, GMGI stock price climbed to $2.44 with 46,544 million shares trading.

GMGI has a beta of 0.44, 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 $296.90 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 -16.4%, while the SPY ETF gained +30.0%. In the last 3 month period, GMGI fell short of the market, returning -18.1%, while SPY returned +4.5%. However, in the most recent 2 weeks GMGI has outperformed the stock market by returning +4.3%, while SPY returned +3.7%.

GMGI support price is $2.21 and resistance is $2.47 (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 stock will trade within this expected range on the day.