$Motorsport Games (MSGM.US)$ Motorsport Games jumped after t...

$Motorsport Games(MSGM.US)$ Motorsport Games jumped after the company said it has sold the exclusive license for NASCAR-themed, simulation-style console racing games.

The stock was up 12% at $3.97 in early trading. Shares are still in negative territory year-to-date.

The video game developer, publisher and esports event organizer said Thursday morning that its subsidiary, 704Games, has sold and transferred the license to iRacing.com Motorsport Simulations, which intends to start developing the next NASCAR console game.

"After careful consideration, it became apparent that it is in the best interest of Motorsport Games to concentrate