Signing Day Sports, Inc. SGN Shares Soar Following Strategic Business Moves

The shares of Signing Day Sports, Inc. (SGN) rose on Friday, following the announcement of two significant business moves that are expected to accelerate the company's growth.

As reported by the sports tech firm, Signing Day has signed a new Sponsorship Agreement with the U.S. Army Bowl, which extends its role as the event's National Recruiting Partner through next year. This agreement solidifies the company's position as the manager of the U.S. Army Bowl's National and Regional Combines, allowing it to promote its app and services while opening up new revenue-sharing opportunities.

According to Jeff Hecklinski, President of Signing Day Sports, the collaboration with the U.S. Army Bowl and Goat Farm Sports has already resulted in over 8,000 new football users joining their SaaS model app, signaling a promising partnership.

In addition, Signing Day has also entered into a stock purchase agreement to acquire a majority stake in Swifty Global, a global online sports and casino company. Upon completion of the acquisition, Signing Day will hold a 99.13% stake in Swifty Global, marking a strategic move aimed at enhancing operational efficiency and product development.

Daniel Nelson, CEO of Signing Day Sports, highlighted that the acquisition would enable the company to leverage Swifty Global's cutting-edge SaaS technology to reduce costs by over 50% and enhance its sports data and measurement services. Swifty Global also plans to expand its international gambling operations, aligning with Signing Day's vision to target high-growth markets.

The news has resulted in significant price appreciation for SGN shares, which have gained over 75% in the past five days. As of last check on Friday, the shares are trading higher by 40% at $3.585.