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