Shares of esports media and software business Esports Mogul Ltd [ASX:ESH] are up 22%, trading at $0.0110 at the time of writing, on the back of announcing a new CEO.
The company got themselves quite the catch in securing the services of Michael Rubinelli.
What’s happening at Esports Mogul?
In a recent article we discussed the newest hire for the company. Kate Vale, with a background from Spotify, Google, and YouTube, joined the board. Throughout her career she has amassed some impressive achievements, including recognition for her success through her listing in the Top 40 Under 40 in Digital Age.
The announcement of Ms Vale’s appointment to the board boosted the company’s stock price over 16%. A good sign that the market recognised her talent and what she brings to the company.
The most recent announcement is that of another heavy weight in the digital world:
Former Electronic Arts, Disney, and Midway executive, Mr Rubinelli joined as CEO after a global search for the right candidate.
On the back of this announcement, Mogul’s Managing Director Gernot Abl commented:
‘I’m absolutely thrilled to welcome Michael to Mogul as our CEO. His appointment further strengthens our foundations for success. Global esports is evolving rapidly with new opportunities emerging almost daily. Michael’s deep understanding of gaming and tech combined with his ability to absorb and utilise enormous amounts of information will provide the business with terrific leadership.’
Where to from here for Esports Mogul?
The appointments of both Ms Vale and Mr Rubinelli are being perceived as nothing but positive news by the market, with each announcement leading to a large jump in the price of their stock.
With a market cap of just over $18 million, the new hires can have a large impact in the growth of the company.
On the charts, the price is trading at $0.011 at the time of writing, if this movement up is to continue, then the levels of $0.013 and $0.016 may become future resistance points.
On the downside, if the price were to retrace, then levels of $0.010 and $0.007 may become the focus.
For Money Morning
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