Why Skillz Was Beating the Market on Monday
The stock of mobile games platform operator Skillz (NYSE:SKLZ) was a winner on Monday, as it was well outpacing the gain of the S&P 500 index in late afternoon trading. The reason for this was a new deal the company inked with a European peer.
Monday morning, Skillz said it has invested $50 million for a minority stake in Germany-based Exit Games; it did not specify how large a stake this is. Skillz Founder and CEO Andrew Paradise will join Exit Games' board as an observer.
Additionally, the two companies have formally established a strategic partnership.
Source Fool.com
