MGT Capital Investments Inc. (NYSEMKT:MGT) is drawing a lot of attention from Wall Street. MGT Capital Investments, Inc. (MGT), through its subsidiaries is in the business of acquiring, developing and monetizing assets in the online and mobile gaming space and social casino. Shares of MGT have more than doubled this week and looks like the rally is about to continue into tomorrow’s session. Share of MGT were up more than 16% in aftermarket trading. If you own the stock of MGT you need to know the following:
MGT, based in Harrison, New York announced that it would change its name to John McAfee Global Technologies. The obvious reason for the name change is the appointment of antivirus software pioneer John McAfee as the new CEO. Just to refresh your memory, back in 2011, John McAfee sold McAfee antivirus software firm to Intel for a huge price tag of $7.7 billion. Post sales, Intel changed the name of McAfee to Intel Security. Earlier MGT announced that it has agreed to acquire “certain technology and assets” of McAfee’s anti-spy software firm D-Vasive for $300,000 in cash and a 47% stake in the company, which amounts to 23.8 million restricted shares.
So where is MGT headed next? Only time will tell what happens with MGT with share prices as high as $1.25 with over 29.38M shares exchanging hands today. Nevertheless, there is tremendous potential for day traders to make a killing especially if the share prices continue to surge like they did today. Always, follow traders vigilance.We will be updating Journal Transcript as soon as we know more. For continuing coverage on MGT, sign up for our free newsletter today and get our breakout alert.