New Alert Rallies +7% So Far

AwesomeStocks Don’t want emails from us anymore? Click [here]( to unsubscribe. Hello! We wanted to send a brief update of our new alert, GROM. Following our alert this morning, GROM opened today at 1.15 and so far, rallied as high as 1.24, upside of +7%. GROM has a history of experiencing high volatility. As a reminder, last week, GROM rallied upwards of over 80% to a high of 1.61 in just a couple of days. If GROM rallies above its recent highs, it could be positioned for increased upside potential. GROM has a 200 day moving average of 3.21, 179% above today’s open. As a reminder, GROM has announced multiple developments recently that could be continued growth catalysts. On Thursday, the company announced big breaking news positioning it in the hot gaming industry. Here is the announcement from Thursday: “Grom Social Enterprises, Inc. to Further Expand Entertainment Offerings Through Gaming as it Enters Into Letter of Intent to Acquire Leading Gaming Company, Arctic7” “BOCA RATON, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- Grom Social Enterprises, Inc. (NASDAQ: GROM) ("Grom" or the "Company"), a media, technology, and entertainment company dedicated to family-friendly programming, web filtering technology and safe social media for kids, today announced that it has entered into a non-binding letter of intent to acquire Arctic7, Inc.", "an emerging gaming industry service provider, in a 100% equity transaction. Grom’s addition of Arctic7 could serve as an entry point for the company to secure a foothold in the growing and lucrative gaming industry and also explore opportunities to leverage gaming technology to serve the entertainment needs of today’s kids and families in new, innovative ways. The acquisition of Arctic7 would complement Grom's existing entertainment offerings of safe, social media for kids and its growing catalog of original intellectual property from Curiosity Ink Media, which Grom acquired in 2021.” As the company further explained in this press release: “Under the leadership of its CEO, Igor Efremov, Arctic7 has quickly established itself in the gaming industry and demonstrated impressive growth, achieving $7.9 million (unaudited) in its first fiscal year (FY23) and anticipates reaching approximately $14 million (unaudited) in FY24. Launched in 2022, Arctic7 has focused on becoming an industry leader and innovator by delivering exceptional experiences in full game development, co-development, and virtual production for its partners and players and serve as a nexus for creative collaboration within the entertainment industry.” Furthermore: “Our vision for Arctic7 is to become a leader in the gaming space offering full game development, co-development, transmedia and virtual production capabilities and ensuring we continue to develop a world class team together with strong relationships across the industry,” explains Arctic7’s CEO, Igor Efremov. “We continue to successfully execute against this vision and are excited that this has been recognized by Grom Social Enterprises while also being enthused at how the partnership can further fuel our growth as we continue to develop engaging content, grow our amazing team, and accelerate our M&A efforts working with Grom Social Enterprises on their journey to become a leading entertainment company.” We are continuing to monitor this opportunity. 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