Friday, May 14, 2021

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its unaudited consolidated financial statements on March 31st, in accordance with NYSE reporting requirement. The company also announced to facilitate the submission by filing full unaudited income statement and balance sheets by April 30th, 2021. ESGC stock plummeted adjacent to the news.


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At last check, shares of Eros STX Global Corporation (ESGC) were down -11.97% at $1.25. Shares of the company fluctuated between $1.2935 and $1.45 throughout the day. Over the past three months, the stock has lost -26.42%, while over the past six months, it has shed -34.56%. Further, the company has a current market of $507.27 million and its outstanding shares stood at 357.23 million.


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About Eros STX Global Corporation:

Eros STX Global Corporation, (NYSE: ESGC) is an international entertainment company that specializes in acquiring, producing, and distributing digital content across various formats inclusive of theatrical, television, and online streaming to customers around the globe.

Eros International Plc was renamed to Eros STX Global Corporation after the merger with STX Entertainment, July 2020.  A merger between the leading Indian OTT players and premier studio combined with Hollywood’s fastest-growing independent media company has expanded its services to over 150 countries.

ESGC has also acquired U.S. distribution rights to Black Bear Pictures and Anonymous Content’s psychological thriller The Marsh King’s Daughter and will directly distribute the film in several countries such as UK, Ireland, and India. The Marsh King, by author Karen Dionne, is a best-selling novel and has been published in various languages.

STXfilms has also signed F. Gary Gray to direct Vin Diesel in the action-comedy Muscle. The combination of the two Hollywood giants has expectations surged for the project with anticipation of ‘Muscle’ to be highly profitable.

Conclusion

ESGC did not offer a better-than-expected outlook for the current quarter with share price plummeting immensely. However savvy mergers combined with several strategic relationships have raised investor expectations for the future of the company.

 

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