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GOAT Industries ( (TSE:GOAT) ) has issued an update.
GOAT Industries Ltd. has announced a non-binding letter of intent to acquire 1509467 B.C. Ltd. and Vroom, Inc., which are focused on the North American sports betting market. The acquisition, valued at $14.7 million, involves issuing 70 million common shares and performance warrants contingent on revenue milestones. This strategic move is expected to bolster GOAT’s position in the gambling industry by integrating advanced technologies and expanding its market reach.
Spark’s Take on TSE:GOAT Stock
According to Spark, TipRanks’ AI Analyst, TSE:GOAT is a Neutral.
GOAT Industries faces severe financial difficulties with negative profitability, high leverage, and weak cash flows, significantly impacting its stock score. Despite these challenges, technical analysis shows positive momentum, providing some support to the score. However, the lack of earnings and dividends weighs heavily on the company’s valuation, resulting in a low overall score.
To see Spark’s full report on TSE:GOAT stock, click here.
More about GOAT Industries
GOAT Industries Ltd. operates within the technology and gambling sectors, focusing on acquiring and integrating innovative platforms. The company aims to enhance its market presence by leveraging cutting-edge technologies and strategic acquisitions.
YTD Price Performance: -1.75%
Average Trading Volume: 192,799
Technical Sentiment Signal: Buy
Current Market Cap: C$3.28M
For detailed information about GOAT stock, go to TipRanks’ Stock Analysis page.