iGaming Stocks Watch Issue 10 (27 April -10 May) looks into the market performance for the end of April, and the opening weeks of May (Image from Roberto Júnior at unsplash.com)
We found plenty of slumps all around the market as reported in our iGaming Stocks and Shares Watch (Issue 9), as the entire world is in somewhat of a financial crisis due to uncertainty and fear regarding interest rates, and it would seem that iGaming has not been exempt from this. Looking on the bright side, what goes down often comes up in the stock market game, though it is a question of how long it will take. As the page of the calendar turns to May, many of us will be hoping that it is the start of a change in fortunes with the iGaming stocks that we are holding. Here, we will see how April closed out, and how May has begun, as we look into LeoVegas, 888 Holdings, Aristocrat, Entain, Light & Wonder Inc, Playtech, and Evolution.
888 Holdings (888.L) 888 Holdings holders will have been subjected to some extreme emotions recently as there was lots of higher highs at the beginning of April, followed by a lot of lower lows. We left 888 Holdings at 185.90 GBX last time out, and since then, the stock price seems to have stabilised. It has not shown a great deal of movement over the past couple of weeks, though it did have a brief rally to 193.90 GBX (3 May). At the close of trading on Tuesday the 10th of May, 888 Holdings is trading at 186.00 GBX.
Aristocrat (ALL) Aristocrat stock wasn’t having the best of times throughout the majority of April the last time we caught up with it, but it finished the month strongly at a price of 33.66 AUD. However, it couldn’t carry that form into May, and the stock duly took a nosedive to a low of 31.31 AUD by the 10th of May. This is also a bit of a concern, as that price is the lowest it has been in 2022, the last 6 months, and the past year. For potential investors, a value like this does not come around very often.
Entain plc (ENT) 1474.50 GBX is where we left Entain last time, and the last 2 weeks have not been so kind, apart from a deceptive moment at the end of April went it looked like the stock might be looking up when it rose to a price of 1518.50 GBX. It has been all downhill since then, and the price has fallen to 1227 GBX at the end of the trading day on the 10th of May.
Light & Wonder Inc (LNW) SGMS has officially changed its name to Light & Wonder. Its share price has been a bit of a rollercoaster for quite a while now, and the last time we reported, its share price had fallen to 57.38 USD. Going into May, it looked as if LNW was looking to gain some momentum after it hit 59 USD, but, much like most of the market, LNW has hit a rough patch, and the price has fallen to 47.66 USD as of Tuesday the 10th of May.
LeoVegas (LEO) We wondered last time out if LeoVegas could continue the positive trend that we have been seeing from it for the past 6 months. Well, the answer to that is ‘yes’, and in quite an emphatic style, too. MGM Resorts has obviously been taking notice of how well LeoVegas has been performing, and no doubt nothing will have changed after LeoVegas released its financial report. The interest sent the share price skyrocketing on the 2nd of May, going from 42.32 SEK to 60.30 SEK. The stock price has remained around that price since then and closed on Tuesday at 60.60 SEK.
Playtech (PTEC.L) 547.00 GBX was where Playtech was at last time, and there were disturbing signs that the downward trend that we have been seeing of late could continue. Unfortunately, on this occasion, we were not wrong, and the price has continued on that path, hitting 491.00 GBX on the 9th of May, which was also a 6-month low and then falling to 489.00 GBX the following day.
Evolution (EVO) Evolution was at its lowest price for the calendar year in our previous report, but has it been able to turn things around? Well, it did do briefly, as it reached 1,070.20 SEK on the 4th of May, but has tumbled since then to even lower than before. 890.10 SEK is the price Evolution closed at on Tuesday. 878.20 SEK will be a price point of interest, as this is the 12-month low and one that investors will not be wanting to dip under.