Can This Growth Stock Recover From a Huge Price Drop?
Skillz (NYSE: SKLZ) is an online platform that brings together gamers to play against one another, including in tournaments. The platform is unique because it offers players the opportunity to wager on the competitions, and the winners can earn monetary prizes.
Skillz's stock price is down 45.7% so far in 2021, and not without reason. The company has been spending aggressively on customer acquisition, and that is worrying some investors. What is making matters worse is that the company doesn't seem to be getting much return on the investments it's making on growth.
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Source Fool.com
