Earlyworks nasdaq Elws Stock Skyrockets on Stakeholder Update

Earlyworks (NASDAQ: ELWS) Stock Skyrockets on Stakeholder Update

Earlyworks (NASDAQ: ELWS) stock witnessed a meteoric rise on Wednesday following the release of an update on stakeholders.

Earlyworks (ELWS) has disclosed investments from two prominent individuals. Among them is Hiroki Yamamoto, who holds a 6.2% ownership interest in the company. This shareholding originates from stock options possessed by Yamamoto, which correspond to 1 million shares of ELWS stock. The calculation of this percentage is derived from the total of 15,039,400 (15.03 million) ordinary shares currently in circulation, along with the additional 1 million shares obtainable through exercise.

Satoshi Kobayashi emerged as another significant investor, boasting a 62.9% stake in Earlyworks. Kobayashi’s ownership comprises 5,462,265 (5.46 million) ordinary shares accompanying an additional 4 million held by Themis Capital GK. Notably, Satoshi Kobayashi stands as the sole proprietor of Themis Capital GK.

Earlier this year, Earlyworks inked a game-changing Memorandum of Understanding (MOU) with Social Finance Limited, the operator of GuildQB, a prominent Web3 platform in Japan’s gaming industry. The partnership aims to co-develop blockchain games, capitalizing on Earlyworks’ proprietary private blockchain technology, the Grid Ledger System (GLS). This strategic move signifies a pivotal step for the company to establish a foothold in the burgeoning gaming industry.

Earlyworks (NASDAQ: ELWS) Stock Movement

ELWS stock shot up 187.91% to close at $1.31 on Wednesday. The traders had exchanged hands with 57,151,375 (57.15 million) shares compared to the average daily trading volume of 334.87 Thousand.