Why Skillz Stock Slumped a Whopping 48.3% in December
Shares of Skillz (NYSE: SKLZ) slumped a whopping 48.3% in December, according to data from S&P Global Market Intelligence. The competitive and mobile gaming company notified investors that it is in danger of being delisted from the New York Stock Exchange. The company is also seeing significant revenue declines and is hemorrhaging money.
As of this writing, shares of Skillz are down 90% over the past year, meaning that for every $10 invested in the stock a year ago, only $1 remains today.
On Dec. 16, the New York Stock Exchange (NYSE) told Skillz that it was not in compliance with its share price rules since the stock was trading at an average price below $1 for 30 consecutive trading days. The day after this news was released, Skillz stock started plummeting and never looked back. Today, the stock trades at $0.52, meaning it will take close to a 100% gain to get back above $1 a share.
Source Fool.com
