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Slow Down, You Move Too Fast… RUSH STREET Stumbles! (RSI)

Posted on April 8, 2021

We’re walking up and down Rush Street Interactive (NYSE:RSI) today, in a move that bucks against all our better instincts.


Well, it’s not like us to take on a trade with an underlying that was listed just a year ago.

There’s almost nothing predictable from a stock like that, and the likelihood of it rocketing higher – or bottoming out completely – is about equal.

That said, we’ve decided to venture in the slipstream with this newfound gambling platform, and let the risks be damned!

Why?

Well, we start with a (circumspect) look at the company’s fundamentals – such as they are:

That’s right.

No Earnings, no Dividend, no Book Value.

And it’s that winning trio that’s produced a fairly sizeable short position on the stock, which, in itself, presents a danger to those, like us, expecting additional downside.

But it’s really the technical picture that convinced us the time is ripe to act on this wounded puppy, and to expect a measured decline in the months ahead.

Have a look –

Many happy returns,

Matt McAbby

 

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