Shares of Hall of Fame Resort & Entertainment Company (HOFV) continue to rise in Monday’s pre-market session after gaining at the previous market. HOFV stock price saw an uptrend of 15.00 % to reach $4.60 a share as of this writing. The previous closing price of HOFV stock was $4.0 with a 46.52% gain. There is no recent story by the HOFV stock to explain this rise.
What’s happening?
Hall of Fame Resort & Entertainment Company (HOFV) is a resort, entertainment, and media company.It seems that HOFV stock has been hot among the investors despite no recent news by the HOFV stock.Also, there are no signs of analysts upgrades or upswing targeted per share price to explain the rally.However, anything that has some link with NFTs is making an impact as NFTs have been much in the discussion for the past few weeks.
Financial View
HOFV stock announced its fourth-quarter and full-year financial results of 2020 on March 10, 2021.Here is the summary of the results.
HOFV annual revenue generated $1.8 million in revenue in the fourth quarter with 4% growth and annual revenue of 2020 totaled $7.1 million.Net loss in the fourth quarter was $14.6 million while it reached $71.3 million for the full 2020 year.Adjusted EBITDA in the fourth quarter of 2020 was a loss of $6.5 million while for the whole of 2020, adjusted EBITDA was recorded a loss of $20.5 million.
Recent Business Developments:
Hall of Fame has signed many agreements in the fourth quarter which include agreements with TopGolf and Shula’s Restaurant Group, a media partnership with WaV Sports & Entertainment and Sports Illustrated Studios and 101 Studios,a partnership with StakeKings, and a deal with Spectra Partnerships for an increase in sponsorships and a three-year sponsorship with Republic Waste Management for the education of recycling of the waste.
Conclusion:
HOFV stock price is continuing the rising trend in today’s pre-market trading.HOFV stock has shown growth in its recent earnings report and its management is optimistic that the stock will continue the momentum in the future.
