World Chess (LON:CHSS) Shares Down 1.1% on Insider Selling

World Chess PLC (LON:CHSS) traded down 1.1% on Thursday following insider selling activity. The stock traded as low as GBX 0.94 and last traded at GBX 0.94. 72,832 shares changed hands during trading, a decline of 98% from the average session volume of 3,280,029 shares. The stock had previously closed at GBX 0.95.

Specifically, insider Ilya Merenzon sold 3,000,000 shares of the business’s stock in a transaction dated Monday, January 19th. The stock was sold at an average price of GBX 1, for a total transaction of £30,000.

World Chess Price Performance

The company has a market cap of £6.35 million and a price-to-earnings ratio of -1.15. The company’s 50-day simple moving average is GBX 0.75 and its 200-day simple moving average is GBX 1.19.

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.