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Saturday, November 28, 2020

Notable News Spotlight: The9 Limited (NASDAQ:NCTY)

The9 Limited (NASDAQ:NCTY) changed 3.50% to recent value of $0.7. The stock transacted 390230 shares during most recent day however it has an average volume of 1.34M shares. It spotted trading -48.53% off 52-week high price. On the other end, the stock has been noted 99.89% away from the low price over the last 52-weeks.

On Sept. 21, 2020, The9 Limited (NASDAQ:NCTY) an established Internet company, revealed that it has signed an Agreement with Voodoo, a French game developer and publisher. The9 and Voodoo will collaborate on the publishing and operation of casual games in mainland China. The9 will publish and operate under this agreement two, with an option for a third, casual games with strong IAP (In App Purchase) licensed by Voodoo.

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Voodoo is one of the world’s largest developers and publishers of casual games and hyper-casual games. Voodoo’s games have been downloaded 3.7 billion times on iOS and Android phones cumulatively up-to-date, with monthly active users of 300 million. Voodoo has released more than 100 games, which are widely welcomed by players, many of which have become successful intellectual properties (IPs).

Chris Shen, the President of The9 said, With the expansion of the game user base, casual games have shown rapid development prospects in China and worldwide. Through our strategic cooperation with Voodoo to jointly publish and operate a variety of casual games in China, we can leverage the popularity of high-profile game IPs in the Chinese market to grow our casual game market share. Based on Voodoo’s rich experience in data-driven game optimization, and its ownership of a large number of famous game IPs, we believe that Voodoo together with The9 have a great advantage in the field of casual game publishing in the mainland China market. I believe that players will be fascinated by the new look and richer game play of these well-known hyper-causal games, which will bring a new trend to the casual game market.

Its earnings per share (EPS) expected to touch remained 56.90% for this year.

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The company has 42.84M of outstanding shares and 14.41M shares were floated in the market. According to the most recent quarter its current ratio was 0.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 29.67% from the mean of 20 days, 8.29% from mean of 50 days SMA and performed -2.36% from mean of 200 days price. Company’s performance for the week was 25.00%, 25.00% for month and YTD performance remained -23.25%.

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