Genius Sports (NYSE:GENI) stock is on the rise Thursday as investors react to the sports betting company extending its deal with the NFL.
With this expansion, Genius Sports will continue to act as the exclusive distributor of data from the league. The new deal is set to last through the 2027-2028 season and covers play-by-play statistics, proprietary Next Gen Stats and official sports betting data feed to media companies.
Brent Lawton, Vice President of Business Development & Strategic Investments for the NFL, said the following about this news:
“Since our partnership began in 2021, Genius Sports has been an integral part of taking our official data feeds to market and working with sportsbooks to develop new ways for fans to engage with the NFL. We’re excited to extend our relationship with Genius and look forward to working with them to develop the next generation of NFL fans.”
GENI Stock Movement on Thursday
With news of the expanded NFL partnership, shares of GENI stock are seeing heavy trading on Thursday. As of this writing, more than 7.7 million shares of the sports data and betting company’s shares have changed hands.
With this stock movement, shares of GENI stock are up 14.8% as of Thursday morning. The stock is also up 96.8% since the start of the year.
Investors keeping an eye out for all of the most recent stock market news will want to check out the stories below!
We have all of the biggest stock market stories that traders will want to read about on Thursday! That includes everything happening with shares of Meta Platforms (NASDAQ:META) stock, Spirit Airlines (NYSE:SAVE) stock, and Kazia Therapeutics (NASDAQ:KZIA) stock today. You can catch up on all of this news by reading the following links!
More Stock Market News for Thursday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
