Insider Buying: World Chess PLC (LON:CHSS) Insider Acquires £600,000 in Stock

World Chess PLC (LON:CHSS) insider Ilya Merenzon bought 20,000,000 shares of World Chess stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of GBX 3 ($0.04) per share, for a total transaction of £600,000 ($798,509.45).

World Chess Price Performance

World Chess PLC has a 1 year low of GBX 2.50 ($0.03) and a 1 year high of GBX 18 ($0.24). The company has a 50 day simple moving average of GBX 3.99 and a two-hundred day simple moving average of GBX 3.99. The stock has a market capitalization of £26.98 million and a P/E ratio of -6.38.

World Chess Company Profile

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.