An American online sports betting company. One of the top 2 companies in the USA for online market share. They went public the other week. I feel they will grow bigger as the Gambling licence for each state in the USA starts to open up.
20bn market cap, I’m sure flutter entertainment own FanDuel v similar to draft kings
Yep correct, it’s Fanduel vs DraftKings as the top 2 currently.
Also since it was born from a SPAC like virgin galactic the price history is misleading. The price would be around 10 whilst the company is functioning as blank check. The real increase in price of any relevance has to be from either when the draft kings deal was announced or when it was a certainty the draft kings deal would proceed. Not that an increase in price validates the company. My own opinion is market cap is far too high. $7bn valuation would be reasonable. It may well be the next bubble stock and the changing gambling legislation could be the catalyst for that. If I was to invest to benefit from this I would pick flutter who have the established paddy power and other businesses and yet trade at a cheaper valuation. Perhaps being listed in the UK is responsible for the discount.
Hey Kyle, welcome to the community and thanks for sharing the request here!
Worth a listen in relation to this stock.