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SKLZ Stock: Cathie Wood Bets on Skillz Stock, Should You?

Skillz (NYSE:SKLZ) stock is up on Thursday continuing positive movement for the stock that started yesterday.

Three friends playing a mobile game against each other.

Source: Rawpixel.com/Shutterstock.com

So why is SKLZ stock up today? It looks like the recent news of Cathie Wood’s ARK Investment ETFs buying shares of the stock have it rising. ARK reveals yesterday that it picked up a total fo 5 million shares of SKLZ stock between its various ETFs.

The Skillz Stock Situation

SKLZ stock is still fairly new to the public market, having only entered it in December 2020 through a SPAC merger with Flying Eagle Acquisition. Unfortunately, things haven’t been going well for the stock with shares falling in February and March after a strong increase.

Investors can get a better idea of what’s happening with Skillz at this link.

Luke Lango Says: Don’t Hesitate to Buy Skillz Stock

Luke’s stance on SKLZ stock is that now’s the time to get in on it. While it was hit by short sellers these last couple of months, retail traders are starting to take interest in it and that could send shares soaring.

Get the full details here.

Alex Sirois Says: There Are Big Issues Brewing for Skillz Stock

Alex is much more interested in the short-seller report for SKLZ stock. He points to Skillz CEO Andrew Paradise selling 8 million shares of the stock after the report dropped as a sign of little faith in the company.

Investors can read more on this take here.

Chris Tyler Says: The Field Is Challenging for Skillz Stock

Chris is of the mind that there’s still more potential downside for SKLZ stock on the way. However, he also notes that a lower price could be a good entry point for investors if shares start to rise again in the second half of the year.

See all the details on this stance here.

Matt McCall Says: The Skillz Stock Selloff Is Unjustified

Matt is under the impression that SKLZ stock was hit too hard with the selloff these last couple of months. Even so, he thinks that the drop in price makes for a perfect opportunity if investors want to get in before prices head higher.

You can learn more about that at this link.

Will Ashworth Says: Skillz Stock Is a Falling Knife

Will worries that SKLZ hasn’t yet bottomed out and might not do so until it falls below $10 per share. While he believes there’s potential for future growth, he doesn’t think now is the time to buy into the stock.

You can get his full view of the situation here.

And finally, we have to talk about what SKLZ shareholders are saying. The recent activity surrounding the stock has them chattering on social media. You can follow this link to see what they have to say.

SKLZ stock was up 4.1% this morning but is still down 4.2% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/sklz-stock-cathie-wood-bets-on-skillz-stock-should-you/.

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