Stock market watch week 19 covers an exciting 2 week period for the closing of April, and the beginning of May (Image from Nick Chong at unsplash.com)
A new month is upon us, and there will no doubt be plenty of opportunity in the stock market. In our week 17 live casino stocks and shares report, we saw all of the hard work undone for 888 Holdings, as it lost all of those previous gains. But what has been happening in the stock market in the past 2 weeks? Could a similar thing be happening elsewhere? Here is a catchup of all the pricing action that has been happening for Playtech, Evolution, LeoVegas, 888 Holdings, and Scientific Games on their respective stock markets.
Playtech (PTEC.L) Playtech shareholders will not be enjoying what they have been seeing of late, and it hasn’t ended yet. PTEC.L has continued its fall, and from where we left it last time at 547 GBX, the share price has gone on to hit multiple 6 month lows, but most notably on the 28th of April when it closed the day at 510 GBX. It is looking like there could be unfortunately more yet to come too, but a lower price means the potential for better value.
Evolution (EVO) We left Evolution last time out during a downward trend, trading at a price of 919.30 SEK. EVO holders will be pleased to see things perking up since then, as the price got to as high as 1070.20 SEK by the 4th of May. Evolution closed at a price of 1,022.80 SEK on May the 6th.
LeoVegas (LEO) We left this stock at 39.96 SEK, after the price had gone into overdrive. 43 SEK is a key price point that has been previously highlighted, but that price has been blown out of the water following news that MGM has made an official approach to buy the company for $607 million. Once news of this broke, the price rocketed from 42.32 SEK on 29th April, to 60.30 SEK by the closing of the market on Monday the 2nd of May. Since then, the price has remained stable, closing at 60.80 SEK by Friday 6th May.
888 Holdings (888.L) A very appealing price of 196.20 GBX is where we last left 888 Holdings, after it had lost all of those gains when it emerged that it wanted to acquire non-US William Hill assets. The price of this stock as of Friday 6th May is 187.10 GBX. The stock may have lost a bit in value, but it has certainly become even more attractive. Such a healthy company that has a bright future is why many expert analysts are putting out ‘Buy’ signals on this stock. To add to this, there is a strong possibility that 888 Holdings will reintroduce 2 dividend payouts next year, which will see a great yield of around 8.5% when buying at its current price. There is also the potential that 888 Holdings will increase its dividends in the years to follow, which will of course translate as an even higher yield.
Scientific Games (SGMS) After a very up and down period, SGMS closed at a price of 58.71 USD on Friday the 22nd of April, with support backing it up at 57.50 USD. The problem with support is that if it is broken, then a heavy fall will almost guarantee to follow it, and that is what has happened here. The price went from 59 USD on the 4th of May, to 52.46 USD by the close of business on Friday the 6th of May.
LeoVegas has Excellent Appeal: If MGM manages to complete its acquisition of LeoVegas, then it will definitely be a huge coup for it. LeoVegas is one of the most exciting providers of online casino and sports betting in iGaming, with access to many top LeoVegas games, as well as its multiple awards.