Why Rush Street Interactive Stock Was Down Today
Shares of Rush Street Interactive (NYSE: RSI) were down 21.9% as of 12:44 p.m. ET on Thursday. The online casino and sports betting company reported a weaker-than-expected quarter that sent the shares tumbling.
On the surface, revenue growth looked strong, increasing by 31% year over year. But that is a significant deceleration over the previous quarter's 57% top-line growth rate.
More concerning from the market's perspective are the losses on the bottom line. Rush Street reported a loss of $38 million, and as we've seen lately, the market hasn't had much patience for highly valued stocks that don't show growth in profitability.
Source Fool.com
