Or maybe people just finally admitted the valuations of these sports betting companies is pure stupidity.
yep... bad day at market Wilshire5000 -1.29%
Or maybe people just finally admitted the valuations of these sports betting companies is pure stupidity.
crypto dumped.. Elon did not help the situation.
BJK - VanEck Vectors Gaming ETF - a good way to bet on gaming without playing an individual stock
ytd return 11.53%
fund top holdings
elvolution
flutter entertainment
las vegas sands
aritocrat leisure
galaxy entertainment
draftkings
caesars
MGM
Vici properties
sands china
I think the gaming run is in about the bottom of the 8th. The real money was made last year after March when a lot of smaller companies were valued like they were going under. And then if you bought into the momentum on online/sports in the second half of last year. Those two trends are done. What's left might be some of the suppliers and big cap names, but those stocks rarely go on a massive momentum run.
is the economy in the bottom of the 8th ? gaming is tied to the economy.. I am thinking top of the 7th , but bottom of the 8th is a good bet too.
Most traditional gaming stocks don't trade on economic cycle, they follow interest rates more closely since its always been build it with debt and then pay it down afterwards. With REITs dominating now its even more rate sensitive. All the online and sports betting followed a hype cycle, but now it seems like a more rational view is emerging.
AMC and GameStop might get added to the Russell index. What a joke.
DKNG getting smoked for very dubious reasons...
DraftKings Shares Plunge as Short-Seller Alleges Organized Crime Link
Shares in fantasy sports pioneer DraftKings plunged more than 11% in early trading Tuesday as short-seller Hindenburg Research issued a report stating the company has “exposure to extensive dealing…www.sportico.com
Very corrupt business they do, it's always the same. Take a position, put out a complete bullshit piece that is 100% speculative and then exit the short in a week or twoI've heard of Hindenberg. They've put out a number of hit pieces in the last year or so. I think they tried to smoke Lordstown Motors recently. The CEO and CFO did just leave this week, but the company stated basically that Hindenberg was full of shit. I think they are grasping at straws here. "Let's play the old stereotype" of gambling and the mob. Could be a buying opp on the drop.
What else can you do when most stuff is selling at silly valuations? Getting a stock down 10% sounds good until you realize its up 90% since the pandemic bottom.Wall Street braces for a pandemic-driven boom to run out of steam.
I've heard of Hindenberg. They've put out a number of hit pieces in the last year or so. I think they tried to smoke Lordstown Motors recently. The CEO and CFO did just leave this week, but the company stated basically that Hindenberg was full of shit. I think they are grasping at straws here. "Let's play the old stereotype" of gambling and the mob. Could be a buying opp on the drop.
The precious metals market has been manipulated for awhile by some of the big banks. JPM got fined nearly a billion dollars for its role. But how many billions did they make in the process?Even though the price of gold is 50 times as high as in 1971, stocks have performed even better. The S&P 500 has produced an annualized return of 11.2% since August 1971, assuming dividends were reinvested along the way. That compares with 8.2% annualized for gold. Furthermore, the only reason gold came even this close to matching stocks over the past 50 years was its huge return during the first decade following Nixon’s announcement. Take away that decade, and gold has lagged behind even intermediate-term Treasury notes. Over the past 40 years, gold has risen at a 3.6% annualized rate, compared with 12.2% for the S&P 500 and 8.2% for the Treasurys.
WSJ
The precious metals market has been manipulated for awhile by some of the big banks. JPM got fined nearly a billion dollars for its role. But how many billions did they make in the process?
Ray Luca likes GlobalStar, inc
GSAT $1.90