Super League Gaming began trading on the Nasdaq marketplace under the symbol SLGG, offering nearly 2.3 million shares at $11 each. The stock initially saw declines of up to 9 per cent in early trading.
Super League was founded in 2014 and found a niche in the hyper-competitive field of video game tournaments by focusing on regular players, rather than those hoping to play video games professionally. CEO Ann Hand has referred to the company as “Little League for esports.” It reported sales of $1 million last year.
Investors in the gaming sector will likely be carefully watching the company’s performance. Esports, which until recently were being considered as an Olympic sport, have spread at a wildfire pace through the industry.