Add inflation, Fed nerves, the Ukraine war, gas prices, to the perception that pandemic stimulus checks inflated gaming at most of the nation's regional casinos. So what I must conclude is that the decline came from collateral damage that has swept over the entire sports betting sub-sector as well as the general jitters that has been exacerbated by the usual suspects. But in reviewing the company, its fundamentals and results since, I see nothing at all that anyone can reasonably point to as a real world reason the stock has tanked off our call.
And if the news since then had been tangible evidence of a real weakness in mainstream metrics, operational miscues, or some macro event like a massive surge of covid, I could well understand the decline neither I nor anyone else at the time could see. Let's begin by saying, yes, we'll take the L on our last call of this stock back on January 9th when it was $46.97.
