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Skillz's Stock Price Keeps Jumping -- Here Are My Thoughts

By Jose Najarro – Sep 2, 2021 at 10:00AM

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A trivia game coming to the platform can bring a new set of users.

Today's video focuses on Skillz's (SKLZ -4.79%) recent stock price movement and recent news affecting the company. Skillz is a gaming platform used to create competitive games, bringing esports to everyone. Here are some highlights from the video: 

  1. On Aug. 31 and Sept. 1, 2021, Skillz's stock price saw strong positive momentum. There was no major news that could have affected the stock price. Investors in numerous social media platforms focused on high-shorted stocks and named Skillz one of them, which could explain the recent excitement in the stock price. 
  2. On Aug. 19, Skillz announced that a global trivia game creator would be creating a new game exclusively on the Skillz platform. The developer of the game is Etermax, one of the largest game developers in Latin America. The game being on Skillz's platform will allow players to play live tournament-style and win real-world prizes.
  3. Andrew Paradise, the CEO of Skillz, mentioned that this game could become one of the most popular trivia games of our time. At the moment, there is no release date for the game.

Click the video below for my full thoughts and analysis. 

*Stock prices used were the premarket prices of Aug. 31, 2021. The video was published on Aug. 31, 2021.

 

Jose Najarro owns shares of Skillz Inc. The Motley Fool owns shares of and recommends Skillz Inc. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

Skillz Inc. Stock Quote
Skillz Inc.
SKLZ
$0.91 (-4.79%) $0.05

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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