Why Rush Street Interactive's Shares Popped Today
Shares of online gambling company Rush Street Interactive (NYSE: RSI) jumped by as much as 17.2% in Thursday trading after it reported its fourth-quarter 2020 financial results. Shares were still up by 13% as of 1:30 p.m. EDT.
Revenue was up an incredible 260% year over year to $100.0 million in the quarter, gains made possible by the increase in the number of states that have made sports betting or online gambling legal. However, Rush Street's net loss rose from $15.1 million a year ago to $48.8 million, partly due to higher expansion and marketing expenses.
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Source Fool.com
