MGT Capital Investments Inc. (NYSEMKT:MGT) Skyrocketing As John McAfee Takes The Helm

[[tagnumber 0]][[tagnumber 1]]Until a few days ago, MGT Capital Investments Inc. (NYSEMKT:MGT) was aspiring to “become a leading player in Internet and mobile gaming and wagering“, presumably led by highly experienced managers whose interests sided with those of the company‘s stockholders. Obviously, owning and operating social and real money gaming sites proved just enough to keep MGT stock floating between $0.20 and $0.40 per share for the last year. Since May 9, 2016, however, that same stock has been a relentless winner and the name associated with this surge is none other than Mr. John McAfee, the developer of the first commercial anti–virus software. Proposed to take charge of MGT as its new CEO, Mr. McAfee seems resolute to take the company to the next level. Has he succeeded yet, though?[[tagnumber 2]] [[tagnumber 0]][[tagnumber 4]]Judging from the stock‘s chart performance over the last few days, the McAfee brand alone has given it an incredible boost. It all started on May 9, three days after MGT‘s Director and BoD member Joshua Silverman handed in his resignation, when the company revealed a definitive asset purchase agreement to acquire certain technology and assets from a developer of anti–spyware software d/b/a D–Vasive Inc. At the same time, news about the appointment of John McAfee as MGT‘s new CEO broke out to universal investor acclaim. At least, that seems to be the right word considering that MGT has since recorded six consecutive positive sessions and its stock price has soared from $0.36 on May 6 to $2.96 yesterday, or a cumulative increase of 722%.[[tagnumber 2]] [[tagnumber 0]]As you can see on the accompanying chart, MGT‘s winning streak has also been backed by record–breaking volume levels. Yesterday in particular, MGT soared 73% with almost 80 million shares changing hands. This came a few days after both the May 12 announcement regarding MGT‘s acquisition of ownership interest in the technology incubator Round House and the May 16 cybersecurity industry outlook provided by McAfee himself. Thus, McAfee left little doubt as to what MGT‘s future business will be.[[tagnumber 2]] [[tagnumber 0]]Considering that MGT‘s current business operations did not exactly get its stock anywhere on the charts, the forthcoming shift to developing cybersecurity solutions might be a welcome change. Until concrete results can be actually measured in one of the next 10–Q reports, however, investors would be better off weighing their options precariously before deciding on getting in heavily.[[tagnumber 2]]