Why the price skyrocketed over 35% today
- Moving Image Technologies Inc (NYSEAMERICAN: MITQ) stock price rose more than 35% ahead of market today. That is why.
The stock price of Moving Image Technologies Inc (NYSEAMERICAN: MITQ) – a leading digital cinema technology company, and SNDBX, a leading developer and manager of amateur games and esports leagues hosted in movie theaters – rose more than 35% pre-market today. Investors are reacting positively to Moving iMage Technologies’ announcement of a strategic partnership to bring a full cinematic experience to the gaming and esports market.
MiT will serve as the official technology systems integrator for SNDBX, creating bespoke portable game carts that integrate PCs or game consoles, accessories, IP switches and other proprietary MiT technologies that can be moved between auditoriums of a cinema. And MiT and SNDBX will cooperate on business development initiatives surrounding the introduction of esports and competitive amateur gaming into the local cinema experience, allowing theater operators to utilize excess capacity and increase franchise sales by profitable way.
SNDBX promotes, creates and manages exciting gaming and esports leagues for amateur gamers of all ages by partnering with local movie theater operators to use auditoriums to host weekly events. And 10-Week Leagues include two weeks of playoffs, expert-led live coaching and skills sessions, exclusive content and training, theater discounts, and giveaway bundles.
MiT and SNDBX will showcase the new mobile gaming cart at CinemaCon Las Vegas April 25-28 at Booth 2203A in the Augusta Ballroom.
“Our exclusive partnership with SNDBX allows MiT to expand its market opportunity into esports leagues and competitive amateur gaming. Our bespoke integrated mobile cart is the only available product of this nature and will enable SNDBX to rapidly deploy competitive e-Sports technology in support of its cinema strategy. By providing theater operators with the ability to monetize their excess auditorium capacity and increase concession sales, SNDBX delivers a win-win value proposition. »
— Frank Tees, Vice President of Technical Sales Support at MiT
“Gaming has long been a passion of mine, and playing video games on a thirty-five foot screen is nothing short of amazing. Local gamers will get a true e-Sports experience every week at their favorite cinema. Our partnership with MiT gives venue owners the technology and integration confidence they deserve when embarking on experiential esports, and SNDBX provides all of the marketing, staffing, and operational support to win players over to their communities.
— Rick Starr, CEO of SNDBX and Executive Vice President of CW Theaters
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.