The selling capitulation has been devastating for many technology growth stocks to the point where I’m now seeing value. Take the example of Skillz Inc (NYSE:SKLZ), a leading esports platform provider that allows independent video game developers to publish their games online so players can compete against each other.
While Skillz Inc’s business model is interesting and offers an alternative to the traditional gaming format, the company’s shares have collapsed by 75% this year and a whopping 91% over the past year.
Perhaps I’m missing something, but the stock appears to be priced as if Skillz Inc was facing bankruptcy. The company, however, holds $484.0 million in cash.
Massive Potential for SKLZ Stock
The post Skillz Inc: Gaming Stock Down 91% but Has Massive Potential appeared first on Profit Confidential.