Why Skillz Stock Crashed and Burned on Thursday
Shares of Skillz (NYSE: SKLZ) flamed out on Thursday, falling as much as 16.6%. As of 11:22 a.m. ET, the stock is still down 11%.
The catalyst that sent the mobile games platform plunging was its abysmal financial results.
For the second quarter, Skillz reported revenue of $73 million, a decline of 18% year over year, while its net loss of $60.6 million improved 24%. This resulted in a loss per share of $0.15, compared to a loss per share of $0.21 in the prior-year quarter.
Source Fool.com
