Why Skillz Stock Rose 14% in February
Shares of Skillz (NYSE: SKLZ) rose 14.4% in February, according to data provided by S&P Global Market Intelligence. All of these gains came early in the month after the company announced a multi-year agreement with the NFL.
Since Skillz only went public in December, I'll briefly explain what it does. Its platform relies on other companies to develop and launch skills-based video games. There are pay-to-play games, from which Skillz gets a cut, the video game developer gets a cut, and gamers can earn a cash prize. However, this company is still a long way off from widespread adoption and it relies on a small number of popular games to create the lion's share of user engagement.
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Source Fool.com
