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Why Skillz Plunged 35.2% in July

TheMotleyFool

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Shares of Skillz (NYSE: SKLZ) plummeted 35.2% in July, weighed down by doubts raised from stock-shorting hedge funds, the availability of warrants that will dilute existing shareholders' stock, and investment management favorite Cathie Wood dumping a large tranche of shares.

All of that was occurring as the mobile esports platform headed toward an Aug. 3 earnings-release date that would also weigh on Skillz shares.

Image source: Getty Images.

Source Fool.com

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