Skillz (NYSE:SKLZ) stock has been on a wild ride this week with highs and lows that have investors chattering.
This has resulted in SKLZ stock seeing heavy trading on Wednesday. As of this writing, some 57 million shares have changed hands. That’s well above its daily average trading volume of 12 million shares. It also makes it one of the most active stocks today.
So why are shares of SKLZ stock up today? That’s unknown. Just like with its fall earlier this week, there’s no recent news that should be affecting the stock today. Even so, investors in the mobile gaming company have to be happy about the gains they are seeing today.
Let’s take a look at what investors are saying about SKLZ stock on social media today.
— Zulu Invest (@ZuluInvest) April 21, 2021
— 14_yearoldinvestor (@14younginvestor) April 21, 2021
— LeeSinTrade (@LeeSinTrade1) April 21, 2021
$SKLZ is garbage but will probably be at $50 by like June just to punish the weak hands
— all i buy is red☄️ (@allibuyisred) April 21, 2021
The real question that investors need to ask themselves is if it’s worth staying on board with SKLZ stock, or should they get out while it’s up? Let’s take a look at what InvestorPlace’s Matt McCall has to say on the matter.
“I’m not going to wade into the charged debate over the role of short sellers in the market. But what I would say is that SKLZ stock highlights the fact that they can be valuable to long-term investors. Either they make a compelling case that brings new information to the market — or, if they’re wrong, they create a more attractive entry point.
We’ve got that more attractive entry point. And while Skillz isn’t profitable, it shouldn’t be. The company is investing to acquire new users that will provide big profits (remember, 95% gross margins) over the long haul.”
SKLZ stock was up 28.2% as of Wednesday afternoon but is down 11.5% since the start of the year.
Investors that are looking for more stocks to watch today are in luck.
There are plenty of other companies seeing major movements today that are worth checking out. That includes Arrival (NASDAQ:ARVL), a host of other electric vehicle (EV) stocks, as well as new-to-the-market UiPath (NYSE:PATH). Investors can learn more about these stocks at the following links.
More Wednesday Stock News
- ARVL Stock: 9 Things to Know About EV Startup Arrival as Shares Move Today
- FSR, CCIV, TSLA, ACTC: The Biden Plan That Has EV Stocks on Watch Today
- PATH Stock: 18 Things for Potential UiPath Investors to Know as Shares Begin Trading
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.