What happened

There was no holiday cheer for shareholders of Skillz (SKLZ 0.91%) on Monday as shares surprisingly got hammered even though the market averages were sharply up. As of 3 p.m. ET, Skillz stock was down 7%. 

So what

There weren't any press releases from Skillz today, which makes the drop in price somewhat unexpected. An article from InvestorPlace this morning suggested the stock could plummet to $0. In short, Ian Bezek (the article's author) believes Skillz is a business with dubious long-term prospects due to expensive user incentives. And perhaps such a bold headline was enough to spook investors. 

A person has a big smile while looking at their phone and standing in front of a blue brick wall.

Image source: Getty Images.

On one hand, any investor would do well to familiarize themselves with Skillz's business model. There are some valid concerns with Skillz (like the aforementioned user incentives) and some idiosyncrasies that make it hard to compare to other companies. On the other hand, Bezek's article is just one person's opinion (for that matter, so is this article from me). Investors would also do well to consider opinions contrary to those of Bezek and myself. Additionally, investors should also think about potential catalysts that could improve Skillz's long-term prospects, like the following bit of news.

Now what

Eagle-eyed investors on social media noticed that Skillz's game Diamond Strike now supports rupees for players in India. In short, Skillz may have quietly launched in India. And if true, it means two things: First, management kept a big promise to investors. Earlier this year, it said it would enter India before the end of the year. But with just days to go, it was starting to look like it wouldn't happen.

Second, if true, Skillz is finally an international business, entering one of the hottest mobile game markets on Earth -- India. Perhaps these players won't need as many user incentives as their counterparts in the U.S., making the cash flow potential for Skillz much better. Right now, it's too early to call either way. But this is fundamental news worth monitoring going forward.