Motorsport Games stock rockets again, heads for 25-fold gain in 2 days after regaining Nasdaq listing requirements

Shares of Motorsport Games Inc.
MSGM,
+72.90%
rocketed for a second-straight day on Wednesday, a day after the Florida-based racing game developer and esports ecosystem company said it regained full compliance with Nasdaq listing requirements. The stock shot up 203.6% in premarket trading Wednesday, to make it the biggest gainer trading on major U.S. exchanges, and to put it on track to open at the highest price seen during regular-session hours since December 2021. Trading volume was 3.2 million shares, compared with the full-year average over the past 30 days of 1.3 million shares. On Tuesday, the stock blasted 713.7% higher to close at $21.40 on volume of 50.2 million shares. At current implied prices in Wednesday’s premarket, the stock is headed for a 25-fold gain in two days, after closing at $2.63 on Tuesday. At Tuesday’s close, the company had a market capitalization of $40.0 million. Even with the two-day surge, the stock has still tumbled 42.8% over the past 12 months through Tuesday, while the Russell 2000 Index
RUT,
+1.49%
of small-capitalization companies has slipped 5.8% and the S&P 500
SPX,
+1.05%
has lost 10.4%.