HOFV Stock: From $3.68 To $3.81 (3.53% Increase) Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Hall of Fame Resort & Entertainment Co (NASDAQ: HOFV) increased from $3.68 to $3.81 (up 3.53%) today. This is why it happened.

The stock price of Hall of Fame Resort & Entertainment Co (NASDAQ: HOFV) – the only resort, entertainment, and media company centered around the power of professional football and owner of the Hall of Fame Village powered by Johnson Controls (the destination) – increased from $3.68 to $3.81 (up 3.53%) today. Investors are responding positively to the company announcing it has signed a three-year partnership with leading plumbing and building products manufacturer American Standard.

American Standard is going to serve as the official plumbing fixture technology manufacturer of the destination – which includes outfitting all of the destination’s Phase II assets with its products. And American Standard will use the destination’s facilities as a plumbing fixture technology hub and testing center.

Since going public in July 2020, HOFV also has executed partnerships with Blue Technologies, Republic Services, and Spectra Partnerships.

KEY QUOTES:

“We are pleased to partner with one of the most recognizable brands in plumbing in American Standard. This partnership is another strong endorsement of our plan for the Hall of Fame Village powered by Johnson Controls. Quality institutional brands like American Standard understand the truly one-of-a-kind experience the Destination offers and want to be part of it, allowing us to build a diverse roster of world-class service providers.”

— Erica Muhleman, Executive Vice President of New Business, Marketing & Sales for HOFV

“We are both thrilled and honored to partner with the Hall of Fame Resort & Entertainment company. Their dedication to innovation and creating a one-of-a-kind experience directly aligns with our approach, making our new partnership a natural fit.”

— Bob Downie, Leader, Trade Sales for LIXIL Americas, the home of American Standard

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.