Esports companies continue to keep Nasdaq’s Listings Qualifications Department busy. This time, Indian collegiate esports market-focused Mobile Global Esports received a notification letter due to not being in compliance with Nasdaq listing requirements less than a year after its July 2022 $6.9M USD initial public offering (IPO). Never heard of Mobile Global Esports, a Nasdaq-listed esports company? It probably evaded your attention by virtue of being a zero-revenue company looking for opportunities in a foreign market space. Nevertheless, Mobile Global...

A focus on revenue growth, new partnerships, and a positive outlook is a common communication pattern of publicly-traded esports companies. Yet, most of them are generating multi-million dollar losses year after year, undergo strategic reviews and restructures regularly, and become penny stocks as their share prices are in freefall. That exact pattern can be observed in British esports solution provider Gfinity’s latest financial report. In its unaudited earnings report for the six-month period ended Dec. 31, 2022, Gfinity highlighted a...