CZR - Rush Street Interactive: A First Take
- Shares of online gaming concern Rush Street Interactive, Inc. are down 70% from their first public trade as unsustainable irrational valuations in a callow, commoditized industry reset.
- RSI's revenues are expected to expand 26% each of the next two years, but profitability is nowhere in sight, as rationalization of customer acquisition spending has not materialized.
- With its forward price-to-sales plummeting 15.7 to 2 in the past 16 months, this busted IPO merited further examination.
- A full investment analysis follows in the paragraphs below.
For further details see:
Rush Street Interactive: A First Take