Shares of mobile-gaming platform Skillz (NYSE: SKLZ) made a big move today -- up 6% as of 1:20 p.m. EDT. This continues a strong run for the stock over the past month, with the stock now up 35% over the past 30 days. But strangely enough, there hasn't been much news of substance for shareholders, which appears to be the case again today.
It seems that some investors see a correlation to Skillz's gains today with new legislation in Canada. The Senate of Canada approved Bill C-218 on Tuesday, allowing Canadian citizens to bet on sports games like hockey and football (but not horse racing). However, this doesn't appear to be fundamental news for Skillz shareholders. Skillz's platform can already be accessed in Canada. Besides, it doesn't offer gambling for sports games anyways. After all, betting on the outcome of a hockey game is more a game of luck than skill.
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Source Fool.com