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World Chess: crazy fundraising with a company with zero internet presence

By Tom Winnifrith | Friday 27 September 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


If this does not scream out red flags I do not know what does. World Chess (CHSS) is guzzling cash and running on vapours so in seeking funding it had to be a taker not a setter on price. Yet, today, it has announced that it has raised €0.10 per share, a premium of approximately 58.6% to the previous closing mid-market price on 26 September 2024. The amount raised is €1,200,000.
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