Complexity parent company listed on NASDAQ
Complexity Gaming, owned by GameSquare which is financially backed by the Dallas Cowboys and Jerry Jones, recently completed a merger with Engine Gaming and Media. This move will see the company, which has been focused on data analytics, move under the Engine Gaming brand and is completed after the move was first made public in December 2022.
With this move, GameSquare has been added to the NASDAQ and TSX Venture Exchange using the ticker $GAME. The company was previously public, but today was officially moved to the NASDAQ exchange this week. Company executives, including Complexity Gaming's Jason Lake, flew in for the event as they watched Justin Kenna ring in the opening bell. Lake described this as a "bucket list" event.
Esports-focused companies have been in the news recently due to collapsing stock prices which is in part due to lack of investors, an encroaching recession, and a specific "esports winter" where companies have announced layoffs and stopped splurging.
Most notably, fellow North American esports and culture organization FaZe Clan has seen their stock price collapse and face delisting as it has been longer than 30 days with the price below $1.00 per share. While stock price is not always indicative of overall financial health for a company, it does not instill confidence in outside investors with a company's public share declining over 90% since its initial public offering.
