RE: Well....3 Dec 2021 11:24
Its not just ENT heading south, the whole sector has been mullered! Since the recent highs, ENT is down 30%, 888 -36%, FLTR -36%, DraftKings -50%. Apart from profit taking, I think the impending rights issue, weakness in recent results, overhang of a failed bid have all impacted the various companies
I did listen to one commentator suggest that although the US 'honey pot' is huge, the competition to grab a share of it is becoming increasingly competitive as more companies enter the market, resulting in higher costs to acquire customers. Short term profits will be weaker than anticipated,....Consolidation will sort this out. This makes sense to me...
I remain bullish on the sector. We must be close to a bottom, hopefully in time for a santa rally