Stock Market Watch Week 15

Stock market watch week 15 covers an exciting 2 weeks to kick off April, with major news causing a price surge for one company (Image from Chris Liverani at unsplash.com)

In our week 13 live casino stocks and shares report, we discovered that a few iGaming companies were struggling with resistance at key price points, meaning that their stock price was failing to break out. For somebody who is already invested, this is obviously not ideal, however, for those who are looking for investment opportunities, it represents great value. There are many iGaming stocks that are currently trading well below fair value, with many experts believing that it is only a matter of time before this market sees a surge. This week, we take a look at the market for the opening weeks of April, and there have been substantial movements for one stock, in particular following some exciting news. Let’s take a look.

Evolution (EVO) We left Evolution on Friday 25th March at a price of 1,043.80 SEK. It had shown little gains on the weeks beforehand – but gains nevertheless. We know EVO to be a solid growth stock, and a long-term hold for most. Unless there has been any major news regarding the company, there is not usually a lot of activity to report with regards to its price. Between the 1st of April and the 5th of April, EVO stock went vertical as investors saw value at 988 SEK. By the 5th, the mini bull run was over when the price hit 1,130.20 SEK, and the stock corrected over the following few days. As of Friday the 8th of April, Evolution stock is trading at 1,014.20 SEK, which is a small loss of price compared to 2 weeks ago, but investors will have barely noticed it.

LeoVegas (LEO) We have stated before on multiple occasions that LeoVegas is considered incredibly undervalued, and perhaps a good investment opportunity. It seems like we are not the only ones to have cottoned onto this exciting opportunity, as the stock has been showing a lot of positive movements of late, and fully expect it to continue. Last time out, we highlighted a 6-month high price of 36.92 SEK being of particular importance, as if that price was broken, it would likely trigger even more support. Well, LeoVegas investors will be absolutely delighted with the activity of this stock over the past couple of weeks. As the price moved closer and closer to that all-important figure, resistance broke and the stock rocketed. As of the 8th of April, LeoVegas is trading at 38.12 SEK, and we don’t see it stopping there. There is still room for more movement we feel, and a price of around 43.00 SEK will be another point of interest.

Playtech (PTEC.L) Playtech has been going through a brief period of price stability, which has left us on the edge of our seats as to which way the next trend would go. 619.50 GBX is where Playtech finished on the 25th of March, and just by looking at the trend of a longer timeline, we feared that it could well dip. Since then, true to the general trend, the stock price continued to shorten. There was a brief period of resilience from the 1st to the 5th of April, as the price moved from 596.00 GBX to 613.00 GBX. It wouldn’t be for long though, and the stock has tumbled to a price of 584.00 GBX (8th April). This represents a loss of around 35p per share since we last reported about it, which does not sound ideal for investors, but as experts believe that this stock is trading at around 65% below its fair value, it could well be a good time to get in, especially when you read about Playtech 2021 € 127.6m Profits Boosted by Live Dealer Verticals & Americas Growth .

888 Holdings (888.L) A company with the credentials of 888 Holdings has had a stock price that has been severely undervalued for a while. In our previous report, 888.L was trading at a very attractive price of 193.70 GBX, but it has now shot up thanks to some major news involving 888 Holdings, Caesars Entertainment, Inc. announced a revised agreement to sell the non-U.S. assets of William Hill to 888 Holdings Plc, which caused 888 Holdings stock price to surge. On Thursday 7th of April, the stock hit 245 GBX, and finished trading on Friday at a price of 209.40 GBX.

Scientific Games (SGMS) This stock was trading at 60.84 USD last time out, and managed to reach 63.24 USD by the end of trading on Monday the 4th of April. The week turned out to be pretty stormy though for the SGMS stock, and it tumbled to 57.55 USD by Friday the 8th of April.

Evolution expands across Canada: Evolution is one of the market leaders in providing software for the Live Casino market. Just recently, it strengthened its position across Canada, with Dual Play being released in Casino Montreal, and it has gone live in Ontario via multiple operators.

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