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consistently more buys than sells yet the share price keeps on dropping. Why?
Because the idiot BoD thought it was a great idea to buy Betting Shops in the UK from WMH?
I am perplexed and well in the red as a result of the last 6 months lunacy. 888 is an online gaming firm, no more and no less, yet we have acquired betting shops, staff, taxes and hassle for what?
For your information, all betting stock took a hit not just 888.
bludiv, you did not attempt to answer my question. Why buy a chain of betting shops when you are an online gaming company? Worse still, a UK chain of betting shops subject to all kinds of government daftness.
Easyp I am like your self sitting on a loss, however I believe this stock will do well in future, I am no expert but the management must have thought that there is good value in buying the betting shop and it’s fully funded by big financial institution.
Look at the general picture not many stock doing well at the mo despite there is amazing companies out there. The latest covid strength set us back.
This is a somewhat wild suggestion but I wonder if we've bought WMH in Europe for their online customers and digital platform - it's much better than 888's and that the grand plan is to sell the WMH shops to BetFred.
I understand that the Done Brothers had built up quite a stake in WMH before the Caesars takeover so I wonder if behind the scenes the plan is to sell some / all of the shops to them.
As I said potentially a wild and way off the mark suggestion but I am in for the long haul here.
Gambling stocks are dropping. As much as the opportunity in the US looks good the customer acquisition costs are very high and it’s unclear at this moment whether or not those newly acquired customers are actually profitable. I’m in Draftkings as well which has been completely battered on this.
I too am unsure of why we would acquire all the shops but keep faith that this is a smartly run outfit and will continue to be so.
Spot on Wolf. The US betting market offers massive potential but at what price...the competition for punters will be intense. DraftKing has been crushed by shorts....the 'jam tomorrow' companies are out of favour at the moment. Due to their US exposure, the UK companies have followed the negative trend
Anyway, big day today...the Fed meeting, they will outline their approach to inflation, interest rates and tapering. The market is waiting on it......if not too hawkish , then perhaps it will be the catalyst for a Santa rally and a boost to 888s price. Fingers crossed!
Swill, wild maybe but this mornings RNS is interesting. Who knows? I am just perplexed and irritated when they make statements like this:
"888 has a clear strategy to be a global leader in online betting and gaming by building market-leading positions in attractive regulated markets, driven by proprietary technology, product leadership, leading brands, and marketing expertise." after buying the WMH betting shops! It may be that even the shops have some fit into this strategy and once the customers are online the shops might get sold off?
Hopefully todays RNS will bump up the sp.
The Yanks never seem to want to keep high street betting shops
Jeez, where's the bottom with this share?
I have a buy order in at 235p but I know as much as the next person in all honesty. Trading update tomorrow I believe.
Too many broker downgrades in this sector, sp will pop back , but when to buy hmmmm , keep watching i guess
Im in now , first of many , target 330ish with 888 GLA
shanny80; to put a buy order in at 235 is just dreaming, shows no understanding of this company, no consideration of the numerous varied views on here. With a punt like that you'd be better of on their tables.
Yes this is volatile, but its already at a low, for no discernible reason, so to think 235 is a goer, id sign up to their offerings and put a grand on zero - there's more chance of that happening
Yer id like to top up at 235 lol , stranger things have happen before in the markets
But i doubt it
In 2020, this share was 71 pence. I have a small buy order at 1 pound, and will average down from there.
Denf, double bubble for me , happy memories them lows , opted for W/Hills piled into them, you be better shorting 888 with a prediction like that, surely