Playstudios Inc. (MYPS) surged high in the aftermarket, gaining 7.98% at $4.60 against its last close at $4.26 on November 29. The stock lost 3.84% in regular trading at a volume of 457.83 thousand shares. During the day, the stock moved between $4.1350 and $4.4900, while in the 52-week range it saw a high of $13.20 and a low of $3.92. The 65-day average volume of the stock has been 389.35 thousand shares. In the past five days, the stock has lost 4.27% and 12.88% last month. While the MYPS stock has gone down by 58.64% year to date. The market capital of the stock is $558.21 million, while its current beta value is 0.58. The stock started climbing in the after-hours on Monday after the company announced acquiring exclusive rights to Tetris® Franchise.
Headquartered in Las Vegas, Playstudios Inc. (MYPS) develops and publishes free-to-play casual games for mobile and social platforms.
MYPS and Tetris Franchise
On November 29, Playstudios Inc. (MYPS) announced that it has secured exclusive rights to the Tetris® franchise for mobile devices. According to the company, it has entered a strategic partnership with The Tetris Company and N3TWORK. As per the partnership, the company now has exclusive global, multi-title mobile rights for the Tetris game, excluding China.
The company plans to operate the current Tetris mobile products for now while preparing for launching its new and improved version. The new version of the game, according to MYPS will incorporate the playAWARDS loyalty platform of the company. The current Tetris mobile app has over 30 million downloads since its introduction in earl 2020, along with millions of retained active players. This all will now be a part of the Playstudios network.
Playstudios’ Financials
On November 11, Playstudios Inc. (MYPS) disclosed its financial results for the quarter ended September 30, 2021. As per the Q3 of 2021, the revenue was $70.6 million against $69.7 million in the year-ago period. While for the first nine months of 2021, the revenue was $215.5 million against $205.9 million in 2020.
Moreover, the net income in the third quarter of 2021, was $11.2 million, against $5.1 million in Q3 of 2020. While the net income for the first nine months of 2021, was $10.1 million against $23.6 million in the same period of 2020.
Future Outlook
As for the full year 2021, Playstudios Inc. (MYPS) expects revenue ranging from $282.5 million to $287.5 million.
