World Chess (LON:CHSS) Stock Price Down 25% – Here’s What Happened

World Chess PLC (LON:CHSS) shares were down 25% during trading on Monday . The stock traded as low as GBX 0.60 and last traded at GBX 0.60. Approximately 557,039 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,634,127 shares. The stock had previously closed at GBX 0.80.

World Chess Stock Performance

The business has a 50 day moving average of GBX 0.94 and a two-hundred day moving average of GBX 1.44. The stock has a market capitalization of £5.28 million and a PE ratio of -0.95.

Insider Buying and Selling at World Chess

In other news, insider Ilya Merenzon sold 14,000,000 shares of World Chess stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of GBX 2, for a total value of £280,000. Corporate insiders own 44.27% of the company’s stock.

About World Chess

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and International Chess Federation (‘FIDE’) official commercial partner.

The Company’s vision is to build a global, leading intellectual sports brand by reinventing chess for the modern consumer. World Chess intends to do this by becoming the leading platform for the global chess community through online, in person and hybrid chess events and activities, and by providing complementary product offerings to players, spectators, and partners through its ecosystem, which is made up of the following pillars.

FIDE Gaming Platform

World Chess runs FIDE Chess Arena, the exclusive official gaming platform of FIDE and has the official rights to offer its players the official ratings and titles, recognised by FIDE.

Events and Competitions

The Company is experienced in organising events and competitions to promote the sport including the organisation of three World Chess Championship matches.

Recently, World Chess developed and launched the Armageddon Series, the chess league for prime-time television.