24/7 Market News Snapshot 20 August, 2024 – Lottery.com, Inc. Common Stock (NASDAQ:LTRY)

August 20, 2024

DENVER, Colo., 20 August, 2024 (247marketnews.com) – (NASDAQ:LTRY) are discussed in this article.
Lottery.com, Inc. has experienced significant trading volatility recently, currently priced at $0.81, which reflects a decline of approximately 17.06% from the previous closing price of $0.88. The stock opened at $0.83 and has seen a substantial trading volume of 891.86K, indicating a heightened level of investor activity. As the stock approaches critical support levels, it is essential for traders to monitor its ability to maintain above the $0.80 mark. Continued selling pressure may signal further downside risk, urging caution among potential investors.

In a strategic move to enhance its market position, Lottery.com has announced the acquisition of S&MI Ltd., a technology company known for its Sports.com brand and application. This deal, valued at $3.00 per share and set to close on September 1, 2024, reflects Lottery.com’s commitment to expanding its footprint in the digital sports entertainment sector. With this acquisition, S&MI will operate under the newly formed Sports.com Media Ltd., aimed at accelerating growth and reaching new audiences in key markets.

Marc Bircham, a former professional footballer with an extensive international background, will join the board of Sports.com Media Ltd. His expertise is expected to be instrumental in navigating the brand’s development and expansion. Furthermore, S&MI has secured a partnership with Clickshakers to enhance service offerings in the UK and other territories, aligning perfectly with the goal of connecting with sports enthusiasts globally.

Majed Al Sorour, President of Sports.com, underscored the importance of this acquisition in cementing their role as a leader in digital sports entertainment. Matthew McGahan, Chairman and CEO of Lottery.com, reaffirmed this vision, emphasizing Bircham’s contributions to elevating Sports.com’s innovative engagement with fans. Through these initiatives, Lottery.com is poised to set new standards for immersive sports experiences on a global scale.

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