Stock Track | NIP Group Soars in Nasdaq Debut, Fueled by Esports Frenzy

Stock Track07-27

NIP Group Inc., the parent company of Swedish professional esports organization Ninjas in Pyjamas, made a strong debut on the Nasdaq Global Market on Friday, with its shares surging as much as 28% in midday trading.

The Stockholm-based firm's American Depositary Receipts (ADRs) opened at $13.11 and climbed to a high of $10.64, marking a significant premium over the initial public offering (IPO) price of $9 per share. NIP Group had offered around 2.25 million shares in the IPO, raising approximately $20.3 million.

The robust stock performance underscores the growing interest in the esports industry, which has witnessed a surge in popularity and viewership in recent years. NIP Group, through its Ninjas in Pyjamas brand, operates professional esports teams and organizes gaming tournaments and events.

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