BLOOM shares soared 18.40 percent to P5.92 per share, adding to gains of nearly 27 percent so far this year.
With a value turnover of about P900 million, it was the most actively traded stock, followed by online gaming giant DigiPlus Interactive (PLUS), which grew 4.7 percent to P64.90 each.
“There is no understating how much PLUS dominates the online gaming landscape, but if anyone can take on a giant like PLUS our bet would be on BLOOM,” said Alfred Benjamin R. Garcia, research head at AP Securities.
He said if megaFUNalo! captures just 5 percent of the projected P261.0 billion online gross gaming revenues, it could already contribute around 18 percent of Bloomberry’s revenues, even after fees paid to state-run Philippine Amusement and Gaming Corp.
Garcia, however, noted that tech-related and marketing costs are expected to spike before the platform can boost profits.
AP Securities recently upgraded its target price for BLOOM to P6.20 each from P5.90 per share.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
