Stock market watch week 17 covers an exciting 2 weeks towards the end of April, featuring a stock that has retraced heavily in value (Image from olieman.eth at unsplash.com)
In our week 15 live casino stocks and shares report, we saw that 888 Holdings had seen its price surge following news of a bid for non-U.S William Hill assets from Caesars Entertainment. Did the stock continue on its path, retain its value, or did it retrace? As well as looking at this stock, we also study Evolution, LeoVegas, Playtech, and Scientific Games so we can report directly back to you. Here is what has happened in the market for the dates between the 11th of April, and the 22nd of April.
LeoVegas (LEO) We left this stock at 38.12 SEK, and possibly midway through a significant price rise. Well, LeoVegas holders will no doubt be delighted with what they have seen over the past 2 weeks. The stock hasn’t stopped rising, and finished on Friday at a price of 39.96 SEK, and well on its way to that price of 43 SEK that we previously highlighted as a point of interest. There is a good chance of a bit of retracement in the coming days and weeks, as the stock finds a solid level of support, but how far will it climb until that happens? Watching this stock with tremendous interest.
Playtech (PTEC.L) Playtech was going through a dip when we left it, following a spell of stability. The price on the 8th of April was 584.00 GBX. Since then, we have seen the price dip even further, and it ended trading at a price of 547.00 GBX on the 22nd of April. The past 30 days have been difficult ones for Playtech holders, as they have seen the price of this stock lose over 10%. Analysts assess this stock to be trading at around 56% its fair value. It is rated as one of the best valued stocks that we cover right now. There is obvious room for improvement in this stock.
Evolution (EVO) This stock was trading at 1,014.20 SEK when we last reported, and for the past 2 weeks, this stock has consistently decreased in value. On the 11th, this stock was valued at 986.40 SEK, then 952 SEK (20th April), and finished at a price of 919.30 SEK at the close of trading on Friday the 22nd of April. EVO stock has been on a clear downward trend since October 2021, but could even be dated back to April. Its holders will no doubt be hoping that things change pretty soon, but for now, the previous price of 1,672 SEK seems a long way away. Could it be a great time to get in? Maybe so when you consider that Evolution has teamed up with BetMGM to create a new studio in Ontario.
888 Holdings (888.L) A Looking at the 888 Holdings chart of the past month is like looking at a intense rollercoaster. The last time we reported, 888 Holdings had just enquired about obtaining Caesars Entertainments non-US William Hill assets, causing the price of this stock to skyrocket approximately 20%. The news about the acquisition since then has been a little quiet, as 888 Holdings and the UKGC discuss the licencing. Without any exciting updates to boost the stock price, the opposite has happened, and the price has slowly but surely returned to those pre-news levels of 196.20 GBX. What can be learned from this is that the stock is of clear value right now, as we have all seen what happened following the release of some positive news.
Scientific Games (SGMS) After a stormy week last time out, SGMS fell to 57.55 USD on the 8th of April. If there is one thing that we have learned about Scientific Games stocks, is that you should hold onto your hats. There are often big price increases and heavy price losses. In the past 2 weeks, we have seen just that, with prices jumping from 57.20 USD to 59.29 USD, then again to 62.69 USD, and then back down to 58.71 USD when trading closed on Friday the 22nd of April. One thing that will please investors, is that there are signs of support around 57.50 USD, which means that to dip below that would be much more difficult than to stay above it.
Evolution Expands with Indian Favourite: Evolution is the king of live dealer, and it has recently added a new variant to its catalog. Super Andar Bahar is the new live dealer title. Andar Bahar is most popular with the Indian market, but Evolution will now be hoping that the revamped version will be just as appealing to a wider market.