GAN - Why Online Gambling Stocks Are Falling Off a Cliff
In the second half of 2020, online gambling stocks were some of the hottest growth stocks on the market. DraftKings (NASDAQ: DKNG) started a trend when it went public via SPAC merger, but Penn National (NASDAQ: PENN) , Rush Street Interactive (NYSE: RSI) , Golden Nugget Online Gaming (NASDAQ: GNOG) , and Gan Ltd (NASDAQ: GAN) all joined the party by hitting public markets or making deals to expand in online gambling .
The euphoria that drove those gains is quickly being unwound in 2021, partly due to the sell-off in growth stocks and partly because expectations may have gotten too high for online gambling. Here's how you should be looking at the market and the leading stocks in the space.
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Why Online Gambling Stocks Are Falling Off a Cliff