Alliance MMA Inc (NASDAQ:AMMA) moved to new highs on Wednesday (7-26). The stock has been moving in a steady uptrend all week and volume has also followed suit. After hitting highs of $1.40 during early morning trading, the stock pulled back just before the lunch hour. Volume has surged all day as the stock has seen some of its most active trading since May of this year. A few weeks back the company announced that it had “scored big”.
The company announced the victories of three Alliance MMA athletes featured on the inaugural 10 bout card of “Dana White’s Tuesday Night Contender Series”. SuckerPunch Entertainment athletes Kurt Holobaugh and Boston Salmon, as well as Cage Fury Fighting Championship (CFFC) Heavyweight Champion Zu Anyanwu, impressed the Ultimate Fighting Championship (UFC) brass by each earning a win.
To date, Alliance MMA has assembled eleven regional MMA promotion companies: New Jersey-based Cage Fury Fighting Championship (CFFC), Washington-based Combat Games MMA (COGA), Illinois-based Hoosier Fight Club (HFC), Tennessee-based V3Fights, Maryland-based Shogun Fights, Ohio-based Iron Tiger Fight Series (IT Fight Series), Florida-based Fight Time Promotions, Georgia-based National Fighting Championship (NFC),and Los Angeles-based Roy Englebrecht Promotions, as well as a San Diego-based promotion under the guidance of MMA luminary Eric Del Fierro, and a Tampa-based promotion under the direction of veteran promoter John Prisco.
Paul K. Danner, Chief Executive Officer of Alliance MMA said in a recent press release, “Our mission is to build shareholder value by propelling aspiring athletes to the pinnacle of our sport by operating, on a profitable basis, a nationwide enterprise of world-class regional MMA promotions that showcases their talent. Equally important to the Company’s success is our SuckerPunch Entertainment group which identifies up and coming talent as early as possible, then mentors those promising athletes by seeking as many career-enhancing opportunities for them as possible. The DWTNCS platform is a superb springboard for Alliance MMA fighter careers in both cases.”