Why the Emerge Gaming (ASX:EM1) share price crashed 50% lower today

Published

5 years ago

December 9, 2020

The Emerge Gaming Limited (ASX: EM1) share price has returned from its lengthy suspension and crashed lower on Wednesday.

In morning trade the eSports and gaming technology company’s shares sank as much as 50% to 5.2 cents.

At the time of writing, the Emerge Gaming share price is down 41% to 6 cents.

This is also down 65% from its peak of 17 cents in October.

Why is the Emerge Gaming share price crashing lower?

After the market close on Tuesday, Emerge Gaming released an update on the registrations for its MIGGSTER social gaming platform.

In October the company claimed to have over 6 million pre-registrations for the platform, which costs $12 a month or $113 a year for a subscription.

This caught the eye of both investors and…

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