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Will Skillz Stock Recover in 2023?

TheMotleyFool

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Will Skillz Stock Recover in 2023?: https://g.foolcdn.com/editorial/images/709016/frustrated-person-on-phone-at-laptop.jpg

Mobile-gaming platform Skillz (NYSE: SKLZ) went public in 2020 and quickly skyrocketed from $10 per share to over $40. Everyone was excited about its high revenue growth, eye-popping gross-profit margin, and large addressable market.

However, since surpassing $40 per share in early 2021, Skillz stock has been decimated. It fell over 60% in 2021 and is down almost 90% in 2022.

One might believe that Skillz's downside is limited from here. However, as you'll see below, I don't believe the company is poised to rebound in 2023. Indeed, it's facing what might be insurmountable challenges in the coming year.

Source Fool.com

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