MGT Capital Investments Inc (NYSEMKT:MGT) Makes A Big Move

MGT Capital Investments Inc (NYSEMKT:MGT) exploded today on some news the investors found pretty interesting to say the least. The company announced that antivirus software pioneer John McAfee is the newly appointed CEO. MGT announced that it would change its name to John McAfee Global Technologies and that it would buy some assets of McAfee's anti-spy software company D-Vasive. This is an interesting choice and certainly a notorious name.McAfee certainly knows his way around the business world although he looks and acts more like your friend's creepy uncle as of late. His net worth was valued at over $100M at one point and sold his company to Intel. This guy seems like more of a maniac nowadays than anything.For starters he is running for president. On November 12, 2012, Belize police started a search for McAfee as a "person of interest" in connection to the murder of American expatriate Gregory Viant Faull. Faull was found dead of a gunshot wound on November 11, 2012, at his home on the island of Ambergris Caye, the largest island in Belize. More recently, on August 2, 2015, McAfee was arrested in Henderson County, Tennessee, on charges of one count of driving under the influence and one count of possession of a firearm while intoxicated.Some would say that this is pretty big news on its own. It is pretty interesting that a newsletter was paid to the tune of $120k to manage an advertising budget in conjunction with the news like this. Look at this 1 day chart today and notice how there was virtuously no chance and making money if you bought at the beginning of the day on they hype.We can't help but notice that MGT owns an interest in Draft Day Fantasy Sports (NASDAQ:DDAY). The same newsletter that was paid $120k for today's fiasco was paid a few weeks back to tout DDAY and hire the same cast of characters for MGT. DDAY is now sitting well below it's profile price. Could we see a crystal ball here?In “exchange” for his new appointment, John McAfee Global Technologies, has entered a definitive asset purchase agreement from D-Vasive, McAfee’s iPhone app that lets you monitor which internal hardware features are being used by different apps.But wait, it gets better! The social gaming startup also announced it has entered into a consulting agreement with Future Tense Secure Systems, the cybersecurity company led by none other than… John McAfee! So a “company” hired McAfee, renamed itself after him, bought his startup AND is paying him for consulting services. Sounds a little strange right?There is another notorious name that pops up when you google MGT. You may be familiar with Barry Honig who was involved with deals like IDI, DRNE, MSLP, PBLC & CLICK to name a VERY FEW. He has had some big winners in the past and also some big losers. According to Honig's filing on October 5th he owned 6.59% of the company, holding 1,133,611 shares. I am going to take a wild guess and say that after today that number may have changed a bit.Today was certainly not an impressive showing for traders who jumped on MGT early on today. If you were a shareholder yesterday then congrats but I am going to guess not too many were. Today we saw $5.5 million worth of MGT traded hand on over 10,800 trades. Only time will tell what happens with MGT from here but if DDAY and today's session are any indication then good luck. We will be updating Insider Financial as soon as we know more. For continuing coverage on MGT, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in MGT and have not been compensated for this article.