Majesco Entertainment Company (NASDAQ: COOL) has had one of the those “fun and cool stock tickers for some time, which until recently had not been too cool for the stock. Some social gaming and the quick-hit format have helped the company turn around. Now it has scored a new win in its back pocket with a game announcement team-up with the National Basketball Association.
The NBA game is not really described in detail but it is called an original video game basketball franchise “unlike most traditional sports video games.” The game is currently set to be released in the spring of 2012 and will use motion-based gaming technology as a “fun and casual interactive experience.”
It was just yesterday that Majesco announced strategic acquisitions from Quick Hit, Inc. to build upon its social games business. Majesco said it acquired certain key operating assets as well as the Quick Hit development team to execute on its social games strategy. The micro-transactions in this effort are called “Freemium” games.
For most of 2009, Majesco was under $1.00. Now shares are at $3.45 after a near-7% gain today on the news against a 52-week trading range of $0.49 to $4.15. This one is still tiny compared to much larger peers as its market cap is almost $130 million.
JON C. OGG
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