After its tournament collaboration with AFL’s Adelaide Crows eSports team last week, Esports Mogul Asia Pacific Ltd [ASX:ESH] saw shares rise over 16% on Thursday, but this quickly dropped to 0.13 by Friday, losing 7.14% of its share price at its close.
At the time of writing, Mogul’s share price is trading at $0.014, a 7.69% increase .
In spite of last week’s spurt, shareholders have had to withstand a 74% decline in share price over the last five years.
Esports Mogul’s legacy tournament collaboration
The partnership with the Adelaide Crows is part of Mogul’s expansion strategy.
It’s the first partnership Mogul has entered into with Adelaide football’s club-owned eSport team, Legacy Esports.
Legacy is an already established team in the Oceania eSports field. The partnership between the companies will bring added growth potential for Mogul.
The Mogul-hosted tournaments will bring new eSports interest from communities.
Together both Mogul and the Adelaide Crows will devise and foster ongoing community engagements and charitable events.
Mogul’s Chief Strategy and Commercial Officer, Jamie Skella, commented on the partnership:
‘Mogul couldn’t be prouder to work together with the iconic Legacy Esports as a landmark partnership for the region. One of many forthcoming partnerships of this kind, it represents our ability to support the industry with market-leading tournament technology, and have industry actors share in our success as we grow. This partnership model is truly win-win in nature – I’m excited about the role it will play as an economic accelerator for everyone involved.’
Esports Mogul’s 2019 outlook
It seems Esports Mogul’s biggest concern is its revenue, having only raked in $14,194 last year.
Shareholders are still seeing its upside potential, with many shareholders believing they could see key advancements in Mogul’s business plan.
But for investors this lack of profit is weighing heavily, with its cash and debt levels looking quite volatile in the last few years of trading.
Despite this, Mogul’s shareholders are up around 67.7% for the year.
Investors may have to wait a little while to see further upside potential for Mogul’s share price.
For Money Morning
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