S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Bezos and Gates Invest in Search for Tech's Best-Kept Secret (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
Game-Changing Cancer Tech Nears FDA Completion (Ad)
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
Critical asset just had biggest fall on record (Ad)
Stock market today: World stocks track Wall Street gains, Japan shares hit record high
China's manufacturing activity contracts for 5th straight month despite policy support
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Bezos and Gates Invest in Search for Tech's Best-Kept Secret (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
Game-Changing Cancer Tech Nears FDA Completion (Ad)
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
Critical asset just had biggest fall on record (Ad)
Stock market today: World stocks track Wall Street gains, Japan shares hit record high
China's manufacturing activity contracts for 5th straight month despite policy support
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Bezos and Gates Invest in Search for Tech's Best-Kept Secret (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
Game-Changing Cancer Tech Nears FDA Completion (Ad)
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
Critical asset just had biggest fall on record (Ad)
Stock market today: World stocks track Wall Street gains, Japan shares hit record high
China's manufacturing activity contracts for 5th straight month despite policy support
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Bezos and Gates Invest in Search for Tech's Best-Kept Secret (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
Game-Changing Cancer Tech Nears FDA Completion (Ad)
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
Critical asset just had biggest fall on record (Ad)
Stock market today: World stocks track Wall Street gains, Japan shares hit record high
China's manufacturing activity contracts for 5th straight month despite policy support

These 3 Gaming Stocks Are Worth A Play

These 3 Gaming Stocks Are Worth A Play

When The Market Tide Is Rising All Ships Move Higher 

It is true that when the market tide is rising, all ships move higher. What is not true is that all stocks within a group are worth your investment in such conditions. That’s why it pays to follow the money and see where it goes. Not because we want to follow the leader but because so many other traders do and when it comes to the market you want to be where the money is. You still want to be choosy but, in nearly all cases, good stocks in a good market that are loved by their customers and investors outperform all others. When it comes to markets, the online gaming market is one of the hottest today and one driven by pandemic-induced stay-at-home lifestyles and increasing levels of legalization. New Jersey is one of the most visible to benefit from legalization trends having just reported a 50% YOY increase in monthly revenue driven by a 90% increase in online gaming. 

Super League Gaming, Inc Is Connecting Gamers 

Super League Gaming, Inc (NASDAQ: SLGG) operates a community and content platform for video gamers. The platform enables users and developers multiple ways to interact including game-play-driven experiences, clubs and the chance to compete in events. And the company has been very successful at it, emerging just before the pandemic struck and benefiting from stay-at-home tailwinds the entire time. Revenue accelerated in the 2nd quarter of 2020 growing nearly 50% sequentially and YOY to $324 million and has only seen increasing figures in the time since. The latest quarter saw revenue top $770,000, up 197% YOY, and these metrics are expected to stick. People love their games. 

The latest news comes in the form of a capital raise. The company sold 1.5 million shares at $9 per for expected proceeds of $13.6 million. The money will be used for general administrative purposes, marketing, development, and CAPEX. Shares of the stock wobbled a bit on the news but the bulls held their ground. Assuming no bad news comes out we expect to see this stock consolidate and move higher into the $15 to $17 range. 

These Three (3) Gaming Stocks Are Worth A Bet 

Rush Street Interactive, Inc Winds Up For Another Run 

Shares of Rush Street Interactive (NYSE: RSI) began a reversal earlier this month when the company reported earnings. The company beat top and bottom-line estimates and raised guidance on strengthening trends within the iGaming industry. Among them are growing chances that New York will legalize online gambling which is why Rush Streets’ early acquisition of licensing is so important. All the company needs now is the go-ahead and it can begin operations in New York state. 

In Oppenheimer’s view, the stock is a buy even without New York in the picture. According to them is that Rush Street’s differentiators and experience are driving customer growth and retention and that is a good thing. Now, with share prices consolidating above the short-term moving average, we see this stock moving up to retest resistance at the all-time high before breaking out and moving into the upper $30-range. 

These Three (3) Gaming Stocks Are Worth A Bet 

Draft Kings Is A Top-Pick In Online Gaming 

When it comes to New York and the potential of online gaming Loop Capital says Draft Kings (NASDAQ: DKNG) is a top-pick. Based on New Jersey’s data the New York market could be worth several billion dollars in annual revenue and the industry leaders are going to see the largest share. 

"Based on New Jersey’s sports betting and iGaming GGR per capita last year, we estimate the online gaming opportunity in New York could be roughly $3bn... As a result, we are especially optimistic about the market opportunity potential in NY for our top pick, Buy-rated DKNG, which has already secured market access rights through its partnership with del Lago Resort & Casino."

These Three (3) Gaming Stocks Are Worth A Bet 

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Should you invest $1,000 in DraftKings right now?

Before you consider DraftKings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.

While DraftKings currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
DraftKings (DKNG)
3.1186 of 5 stars
$43.32+2.3%N/A-24.75Moderate Buy$43.48
Compare These Stocks  Add These Stocks to My Watchlist 

Thomas Hughes

About Thomas Hughes

  • tmhughes.writeon@gmail.com

Contributing Author

Technical and Fundamental Analysis

Experience

Thomas Hughes has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical analysis, the S&P 500; retail, consumer, consumer staples, dividends, high-yield, small caps, technology, economic data, oil, cryptocurrencies

Education

Associate of Arts in Culinary Technology

Past Experience

Market watcher, trader and investor for numerous websites. Founded Passive Market Intelligence LLC to provide market research insights. 


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DraftKings' 5% Dip: Market Warning or Buy Signal?

DraftKings' 5% Dip: Market Warning or Buy Signal?

The factors leading to the decline, explore the company's nearly 50% YOY revenue growth, and analyze the broader market trends affecting DraftKings.

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