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Why Skillz Stock Crashed and Burned on Thursday

TheMotleyFool

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Why Skillz Stock Crashed and Burned on Thursday: https://g.foolcdn.com/editorial/images/694263/person-playing-a-mobile-game-on-their-phone-in-a-dimly-lit-room.jpg

Shares of Skillz (NYSE: SKLZ) flamed out on Thursday, falling as much as 16.6%. As of 11:22 a.m. ET, the stock is still down 11%.

The catalyst that sent the mobile games platform plunging was its abysmal financial results.

For the second quarter, Skillz reported revenue of $73 million, a decline of 18% year over year, while its net loss of $60.6 million improved 24%. This resulted in a loss per share of $0.15, compared to a loss per share of $0.21 in the prior-year quarter.

Source Fool.com

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