NEW YORK (TheStreet) -- MGT Capital Investments (MGT) shares are rallying 5.86% to $3.07 on Monday morning immediately following the company's first quarter 2016 results which showed year-over-year improvement.
Before the market open today, the Harrison, NY-based company that acquires, develops and monetizes assets in the online, mobile and casino gaming space, posted a loss of 7 cents a share, narrower than a loss of 11 cents it reported the previous year.
Total assets for the recent period totalled $5.32 million, compared to $6.12 million it posted a year ago.
During the recent quarter, the company said it agreed to buy certain technology and assets from D-Vasive. It also announced the proposed appointment of John McAfee as CEO.
Earlier this month, MGT Capital also said it acquired ownership interest in technology incubator Round House, which offers co-working space, accelerator services and angel investment.