Firy Inc. (NYSE:FIRY) shares are surging Tuesday. A federal judge dramatically expanded the company’s courtroom victory over Papaya Gaming, pushing the total award well past the already record-setting jury verdict delivered earlier this year. Here’s what you should know.
- Firy shares are powering higher. Why is FIRY stock surging?
Federal Court Lifts Firy’s Award to $719 Million in Landmark False Advertising Case
The U.S. District Court for the Southern District of New York ordered Papaya Gaming to disgorge $719 million in profits to Firy’s subsidiary Skillz Platform Inc, nearly $300 million above the $420 million jury award from April and the largest false advertising judgment in U.S. history. The court rejected every post-trial challenge Papaya brought against the original verdict and separately awarded roughly $10 million in attorney’s fees.
The case centered on evidence that between 2021 and 2024 Papaya advertised $6.7 billion in prize money while routing approximately $4.7 billion of it to bots rather than real players. Those bots, numbering more than 13 million, outnumbered the platform’s roughly 11 million genuine human users. The $719 million figure replaces rather than adds to the April award since the company is entitled to collect once for its injury.
Firy said it intends to pursue full collection aggressively while cautioning that neither the timing nor the ultimate amount recovered can be guaranteed given the possibility of an appeal or further proceedings.
The Chart is Improving, But $10.74 is the Gatekeeper
Technically, FIRY has shifted back into a short‑term uptrend. The stock trades 9.7% above its 20‑day simple moving average at $8.82 and above its 20‑day exponential moving average at $8.68. For near‑term traders, that $8.68–$8.82 zone acts like the market’s line in the sand: hold it and trend‑focused buyers stay engaged; lose it and the move starts to look like a one‑day pop rather than a developing leg higher.
Momentum indicators are also cooperating. MACD is above its signal line and the histogram is positive, which signals that upside pressure is rebuilding and sellers are losing control compared with the prior downswing. The catch is that FIRY remains below its 52‑week high at $10.74, which frames the current setup as a potential retest zone rather than a confirmed breakout. The next debate is whether buyers can turn a bounce into a break.
- Resistance: $10.74 — the July 52‑week high and the next area where sellers may defend
- Support: $8.82 — the 20‑day SMA and the closest trend support after the recent push higher
FIRY Shares Are Soaring
FIRY Price Action: Firy shares were up 11.96% at $9.36 at the time of publication on Tuesday, according to Benzinga Pro.
Image: Golden Dayz/Shutterstock.com
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