Why Skillz Is Falling Hard Yet Again
It's going from bad to worse at Skillz (NYSE: SKLZ). The mobile gaming platform's stock tumbled Friday morning, and was down by 10.1% as of 12:10 p.m. ET. While there was no company-specific news to explain the drop, the Dow Jones Industrial Average and S&P 500 have resumed their own declines, and were off by 1.1% and 1.4%, respectively, at that point in the session.
As fears of a hard economic landing grow, the prospects for a big pullback in digital advertising increase, making it unlikely that Skillz will reverse its downward trajectory anytime soon.
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Source Fool.com
