Magnus has gone public

ezeldin1

Magnus Carlsen is one of the founders of Play Magnus Group.  The company recent went public on the Oslo stock exchange Merkur division and is trading at around $1.85, less than institutional investors paid for the initial offering. The company developed Play Magnus software.  They are sponsoring various online tournaments. Apparently they have big plans for the future, but aren't profitable yet.  Clearly a unique but very speculative situation.  Play Magnus Group has a website with all relevant information. 

Vertwitch
Nice 👍
ezeldin1

Stock moved up sharply today, probably in response to recent surge of interest in chess sparked by The Queen's Gambit series on Netflix.

Grobula
ezeldin1 wrote:

Magnus Carlsen is one of the founders of Play Magnus Group.  The company recent went public on the Oslo stock exchange Merkur division and is trading at around $1.85, less than institutional investors paid for the initial offering. The company developed Play Magnus software.  They are sponsoring various online tournaments. Apparently they have big plans for the future, but aren't profitable yet.  Clearly a unique but very speculative situation.  Play Magnus Group has a website with all relevant information. 

 

I will be sure not to invest in that.  I hear that people lose money in the stock market. That makes me afraid.

I have all my money's in gold bullion

Yet, igor took a portion of it in a wheelbarrow to trade for money with which I buy membership, and also to get breakfast.

I never heard back from him until I see him on these forums, talking to the peasants.

ezeldin1

For anyone who actually wants to find out some facts about Play Magnus Group, the link to their website is playmagnusgroup.com.  Clearly it's about much more than marketing a piece of software.  As for the investment aspect, the company has been underwritten by some large institutional funds.

Grobula
ezeldin1 wrote:

For anyone who actually wants to find out some facts about Play Magnus Group, the link to their website is playmagnusgroup.com.  Clearly it's about much more than marketing a piece of software.  As for the investment aspect, the company has been underwritten by some large institutional funds.

 

You are employed to pump up stock. Nice try but Sherlock Grobula is on the beat.

You know what?

Don't be jealous of my boogie, don't be jealous of my boogie, don't be jealous of my boogie.

ezeldin1

I'm a retired guy who loves chess, admires Magnus, and invests a bit of money from time to time in interesting stocks.  There ought not to be a problem with that.  I came across the information in a news feed.  I looked into it and thought that others in the chess.com community might want to know about it, and do their own due diligence.  If the company performs well, the stock will do well.  If it doesn't perform, the stock won't do well.  I mentioned that it's not profitable yet, and is speculative (meaning, risky.)  That's all there is to it.  Have a nice day.

andrewv128

I wonder where it is going. 

PeasantElevator

wait no way Best Buy went out of business we literally are only using computers these days...

truthadjustr

The only way for chess to become spectator sport is to attach each player pulse monitor while at play showing graph fluctuations, or brain imaging

ezeldin1

Great idea! 

ezeldin1

Did anyone buy any shares of Play Magnus Group in the few days after I mentioned it here?  If so, you're sitting on profit of 70%.  Looks like the stock is how on the radar, likely aided by the upsurge in interest in chess sparked by The Queen's Gambit.

ezeldin1

I'm sure the pandemic has a lot to do with the growth of online chess.  The Queen's Gambit has sparked even more interest.  Since the series aired, there has been a boom in chess sets and books, and an explosion of membership on sites such as this one.  I've noticed that the number of active games on chess.com at any given time has at least doubled in the past couple months alone.  Whatever the main reason, it's good for Play Magnus Group.

TerminatorC800

Speaking of going public, do you think that Chess.com will ever go public? They have a large market portion already, but I think they might when they are in a position to try and monopolize the market as much as they can. However, with the Play Magnus Group now, I'm not sure how likely that will be. 

ezeldin1

I don't have any informed opinion on that.  For what it's worth I thought that chess.com was bought by Amazon, but I may be wrong.  I bought PMG partly because they doubled their revenue in the past  year.

irishmurph89

I’m waiting for more shares to open up 

ezeldin1

Sorry, I don't quite understand what you mean by that.

irishmurph89

ezeldin1

It looks like the stock is not yet actually trading on the U.S. markets.  I bought mine directly on the Oslo stock exchange through Fidelity, which allows for international stock trading online.  Other brokers probably have the same capability.  I had to be at my computer at 3 a.m. to catch the opening of the Oslo market.  

Moonwarrior_1

Hmm