Alliance MMA Inc (NASDAQ: AMMA) is having an overwhelmingly strong day in the market today, and for good reason. The company announced that it has completed a key acquisition, leading to excitement in investors and gains in the value of the stock. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (12:31), AMMA is trading at $2.77 per share after a gain of $1.55 per share or 127.05%.
AMMA Announces Key Acquisition
As mentioned above, Alliance MMA is having an overwhelmingly strong day in the market today after the company announced that it has completed a key acquisition. Early this morning, investors learned that the company has acquired the assets of Victory Fighting Championships or simply VFC.
VFC has produced more than 60 live mixed martial arts events since it was founded in 2002. The company, headquartered in Omaha Nebraska also has global distribution and is broadcast exclusively on UFC FIGHT PASS. In a statement, Paul Danner, CEO at AMMA, had the following to offer…
“With this acquisition, we are taking leaps toward achieving goals on multiple fronts…VFC’s organization footprint, in terms of scale and distribution on UFC FIGHT Pass, provides an incredible opportunity for Alliance MMA to produce content – including live content – that fans want to see.
In addition, as we continue to pursue a presence in all the right geographies, we will build upon VFC’s rock-solid foundation. Under the leadership of Ryan Stoddard, whose vision of expansion aligns with ours, we feel VFC’s unique brand of entertainment and proven quality can best translate to several new cities in the near future.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMMA. In particular, we’re excited to see the results as the company takes advantage of the assets it has acquired from VFC. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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