Skillz is having a Q4 earnings on Wednesday, FEB 23rd after close of business.
Skillz is an online mobile multiplayer video game competition platform that is integrated into a number of iOS and Android games. Players use it to compete in competitions against other players across the world. Reaching a high of $43ish - this stock has taken an absolute beating.
Skillz has been in a down trend over the past three months and testing signs of a breakout.
Quarter over quarter MAUs will be HUGE for Skillz in this earnings report. Revenue growth is great - but the downside is the loses. The earnings report will need to show Revenue growth, MAU growth and burn rate decrease. If we see that operating costs decrease and see that the other two KPIs increase, this could boom in a pretty decent way upwards.
Looking at the chart, Skillz might job upwards into earnings. This could be a quick intraday play where you bail out of earnings. I need to examine the chain and look at options pricing, but sub 5 is a decent level.
@Kryptek Mentioned on the trading floor that ARK sold their position in Skillz - that made me want to look into other institutional holdings. It looks relatively neutral across the board, with Morgan Stanely adding to their position in late December and others removing SKLZ completely. Im not sure which way this indicates movement but it is something to be cognizant of.
That slight revenue beat isn’t very impressive for me and is heavily outweighed by the larger than expected losses.
I believe EBET played out almost exactly the same, slight rev beat, losses widened. They dropped 12% from there.
I think there is room to fall on this. A worry investors could have are bigger players like DKNG moving into this scene. None of these companies have a good moat, biggest players may take all.
Opened an iron condor for this thinking the IVs were insane and most of the movement was already recorded given the tumultuous week we’ve had. Not happy with out AH movement is turning out and given the volume it’s probably real.
