$HDUP Stock Nasdaq BoundAs a global gaming operator and media company, HeadsUp Entertainment International Inc. (OTC: HDUP) is focused on online gaming, sports betting, online lottery, and charity fundraising. After announcing its major future plans , HDUP stock surged 214% as investors too notice of the company’s revenue generating potential. With this in mind, HDUP could be one of the best gambling stocks to watch this summer.
Fundamental Analysis
The trigger for HDUP’s run was the announcement of its plans to close 8 independent transactions to be merged into a surviving entity branded as HeadsUp Global Inc. Commenting on these plans, the company’s Chief Business Development Officer – Mark Hutchinson – shared that the team is “building the gaming, lottery and digital company of the future”.
After closing these deals, HDUP intends to apply for NASDAQ listing based on its asset values and revenues meeting the NASDAQ’s requirements. HDUP’s management are confident this merger will reduce the risks of dilution – increasing shareholders’ value.
These plans were highlighted earlier in the company’s shareholder update which provided the outline of its operation rollout starting with the acquisition of “one of the world’s leading suppliers of digital lottery and online games”. On top of this, it has plans for a partnership with a major operator of gaming technology in Africa which would provide it with access to licenses in major global gaming markets
It also discussed the acquisition of a multimillion dollar asset with a database of over 4 million users. Once the transaction is completed, the company plans to launch the platform across multiple platforms this year.
These acquisitions could be among the first announced by HDUP given the company’s promise to release a number of press releases and twitter updates starting May 4th. In light of this, HDUP could be one of the best gambling stocks to buy ahead of these impending catalysts.
Technical Analysis
HDUP is currently trading at $.1619 after a 214% run over the last six days. HDUP stock shows a main support at .0582, a secondary support at .096 and a weaker support near .129. It's currently trading near a weak resistance of .1702. Accumulation is still moving upwards after dipping with profit taking. Meanwhile, the MACD is bullish and still climbing to the upside. The RSI is overbought at 79 and has yet to regulate.
With solid future plans and an ambitious management team, HDUP stock could continue to climb in anticipation of more news as these catalysts play out. In light of this, bullish investors could wait for the RSI to cool-off for a good entry point on HDUP stock. As some of the excitement dies off, investors could also pick up more shares once the stock dips and hold them in anticipation of its impending catalysts.
With an AS of 500 million and OS of 229 million, HDUP’s float could be close to the 90 million unrestricted shares.
HDUP Stock Forecast
Given that the company is set to release updates on its plans over the coming weeks, many investors are anticipating that HDUP stock will push past its resistance to new highs as the updates are released. With 8 acquisitions on the way, HDUP could be well-positioned for major growth in assets and revenues this year. Considering the company’s NASDAQ listing plans, HDUP stock could also be a profitable long-term investment as the company works to increase its share price organically. In light of these catalysts, HDUP stock has the potential to be one of the best gambling stocks in 2022.
