National CineMedia (NASDAQ:NCMI) Stock Fell 18% Last Week: How to Trade Now?
National CineMedia (NASDAQ:NCMI) dropped 18% last week after announcing an exclusive esports content monetization and advertising agreement with top esports aggregator Harena Data to leverage esports cultural and industry phenomenon. According to the agreement, the company will have exclusive rights to offer ads across Harena Data’s esports content and events in the US. This includes-on streaming media, movie theatres, and locations such as entertainment venues, restaurants, and bars. The company will collaborate with Harena Data to create content licensing deals and develop new distribution spheres for its gaming and esports events.
Recently, National CineMedia announced Manu Sigh as the SVP Strategic Insights & analytics. Sigh will lead National CineMedia’s sales, advertising, and marking research team, including the company’s innovative Behind The Scenes community of more than 5,000 fans. Sales, Marketing, and Partnerships President, Scott Felsenstein said that Singh has extensive research, audience, and data strategy experience across digital platforms and TV, which is massive for the company. So, in the coming days, NCM is a stock to watch.
Market Reaction:
On Friday, NCMI stock fell 0.27% at $3.68 with more than 850k shares, compared to its average volume of 525k shares. The stock has moved within a range of $3.6250 – 3.8900after opening the trade at $3.75. Over the past 52-week, the stock has been trading within a range of $1.8100 – 6.1100.
