Looking for investment opportunities in a fast-growing industry? Stock Market Watch Week 13 covers Evolution, Playtech, 888, LeoVegas & more! (Photo by Geralt Pixabay)
Welcome to our ‘Live Casino iGaming Company Stock Market Watch Week 13′ edition. We take a look at iGaming stocks’ movements so you can make your own mind up on what the future of these companies may hold.
In our previous live casino stocks report, it became clear that iGaming companies certainly show a good deal of stability in the market. Any dip in price usually follows with a steady period of growth thereafter. It’s what makes the market so interesting and a key reason why we like to keep a close eye on the markets so that we can keep you all updated with significant market activity.
Here is a roundup of the past 2 weeks:
Evolution (EVO) Last time out, Evolution stock was trading at 1,012.80 SEK after it had rallied following a dip. Since then, it dipped to its area of support at 950 SEK, and then used the support to make positive movements up to 1,073 SEK. This is a price that Evolution is struggling to move on from, so you might see its price lurking around this area for a while, but it’s anyone’s guess with the current state of world affairs. In the end, Evolution closed on Friday 25 March at a price of 1,043.80 SEK.
LeoVegas (LEO) LeoVegas is one of the most undervalued stocks we cover, and last time out, it was priced at 35.16 SEK. It would seem that some people out there have been taking notes, as this stock has had an excellent fortnight. By Friday the 25 March, LeoVegas had moved to a price of 36.60 SEK, representing a healthy growth of around 4%. To the untrained eye, this might not seem like such a big deal, but when it comes to stocks, the old saying applies that ‘slow and steady wins the race’. Consistent positive movements are a sure sign of support. Its next big challenge will be breaking its 6-month high of 36.92 SEK.
Playtech (PTEC.L) Playtech has been going through a volatile time of late, but there were signs starting to show that a period of stability was coming. Ironically, stability in a stock price is often the calm before the storm, as the market battles between those buying and those shorting. 619.50 GBX is where Playtech finished on 25 March, and the market is probably expecting big movements one way or the other within the next few trading days.
888 Holdings (888.L) 888 Holdings was valued at 186.13 GBX on the 10th of March, which was an 18-month low for the stock. Sometimes, low prices can be great investment opportunities, especially when it is involving companies such as 888 Holdings. The launch of Made to Play has given this stock a new lease of life, with it finishing at a price of 193.70 GBX on 25 March.
Scientific Games (SGMS) The last time we caught up with this stock, it was trading at 58.94 USD and was firmly cemented in a downward trend. The stock dropped to 56.51 USD. From there, the stock rallied to 61.98 USD but was unable to continue on its path. Had it been able to reach the resistance level of 63.57 USD and surpass it, then it could have been the start of an upward trend, but just like online gambling, the signs can be hard to read. SGMS closing price on Friday 24vMarch was 60.84 USD—which is a 6-month loss of approximately 28%.
Light & Wonder: Scientific Games is still in the process of changing its name, rebranding to Light & Wonder. Shareholders have already voted for the change. The official NASDAQ: SGMS is still in action, and as soon as it changes, you’ll be the first to know through our weekly stock market report.
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