Investors are bidding up shares of microcap FanDom Sports Media Corp. (CSE:FDM) in Tuesday trading, apparently under the pretense that additional exposure is going to benefit the mobile sports experience app maker. The Santa Monica-based company, which trades on both the Canadian Securities Exchange and the over-the-counter markets in the U.S. (OTCPK:FDMSF), released early Tuesday the timing of the launch event for its FanDom Sports app.
The event is still a bit out, scheduled for Monday, July 11 as an invite-only event at the Dash Radio headquarters in Hollywood. Blair Naughty, CEO at FanDom, didn't say who would be at the event, only saying that invites will be sent to "many top athletes and celebrities" already in Los Angeles. Naughty was referencing the fact that the FanDom event is the day before the popular ESPY Awards in L.A. that brings in Hollywood and pro sports stars in droves.
Shares of FanDom, which only began trading publicly last August, have spiked to an all-time high on the launch/media event announcement. After closing Monday at 14 cents, shares have jumped to 16.5 cents, representing a gain of 17.9% with about two hours left in Tuesday's session. The stock was trending around 8-9 cents in April and as low as 5 cents in March before finding serious traction in the last four trading sessions.
