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Rivalry Corp. Secures Loan Amid Filing Delays

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Rivalry Corp. Secures Loan Amid Filing Delays

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Rivalry Corp ( (TSE:RVLY) ) just unveiled an update.

Rivalry Corp. announced it failed to meet the deadline for filing its annual financial statements and related documents for the fiscal year ending December 31, 2024. As a result, it obtained a Management Cease Trade Order (MCTO) from the Ontario Securities Commission, allowing it until June 30, 2025, to complete the filings. The MCTO restricts trading by the CEO and CFO but allows public trading of shares to continue. Additionally, Rivalry secured a $600,000 loan from its senior lender to support its strategic initiatives, highlighting continued lender confidence and providing financial flexibility.

Spark’s Take on TSE:RVLY Stock

According to Spark, TipRanks’ AI Analyst, TSE:RVLY is a Underperform.

Rivalry Corp’s stock score is primarily impacted by its weak financial health, characterized by persistent losses and high leverage. While there are positive strategic efforts in terms of product development and crypto market expansion, they are overshadowed by current financial instability and valuation challenges. Technical indicators further suggest cautious optimism without strong upward momentum, and recent corporate initiatives highlight potential future growth areas.

To see Spark’s full report on TSE:RVLY stock, click here.

More about Rivalry Corp

Rivalry Corp. is a leading sportsbook and iGaming operator, focusing on digital-first players. The company offers fully regulated online wagering on esports, traditional sports, and casino games. Based in Toronto, Rivalry operates globally in over 20 countries and holds an Isle of Man license, as well as an internet gaming registration in Ontario. The company is expanding its market presence by obtaining additional country licenses and is known for its creative execution and brand positioning in online culture.

YTD Price Performance: -72.50%

Average Trading Volume: 20,115

Technical Sentiment Signal: Buy

Current Market Cap: C$4.92M

Learn more about RVLY stock on TipRanks’ Stock Analysis page.

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