Skillz: Wait For The Bottoming Out Process To End
As with a lot of the original hot SPACs, (SKLZ) came out of the gate red hot based on massive revenue growth projections. Unfortunately, the market didn't fully research the factors driving those high growth rates. My investment thesis is far more Neutral on the stock now, but my view needs the company to improve user numbers before turning fully Bullish.
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Cathie Wood's ARK sold nearly 1 million shares on 10/5 when the stock traded below $9 in an ugly sign for Skillz.