Elys Game Technology Corp. (NASDAQ: ELYS) is a Toronto-based gaming company that operates in both the North American and European markets. Recently, many trade analysts have been naming ELYS as a top short squeeze name to watch out for this month. This is in large part due to its highly compelling characteristics.
2023 Brings Elys Game Technology a Phenomenal Climb
The stock for Elys Game Technology Corp. (ELYS) is of particular interest to the market in recent days, given its being a strong short squeeze name to ride along with. In fact, ELYS stock has been pushing on with this short squeeze motion since the start of 2023, climbing up from $0.19 to its present aftermarket high of $1.32. With a market cap of only $32 million, coupled with a short interest float of over 10%, it really comes as no surprise to see the market taking on shorters. This upward trend may very well set the momentum for the growth ELYS sees in the coming days of the week.
Prospects Continue Seeing Improvement
Taking a step back away from its price curve and particular, and looking at the business shows that the short squeeze is not really in isolation to broader fundamentals. Last week, the company acquired the IT Development company, Engage IT Services, to broaden its overall market reach. Similarly, last month, it entered into a strategic partnership arrangement with US Integrity, with the goal of taking on a North American market expansion. These strategic ventures point out that Elys is a small company with its sights set high and aggressively looking to take its business to the next level.
Conclusion
ELYS is a strong name in the market, as of late, and it is fast gaining traction among bulls. This growth is largely sustainable, especially since the company has been drastically scaling up with its strategic initiatives.
