Will Skillz Stock Recover in 2023?
Mobile-gaming platform Skillz (NYSE: SKLZ) went public in 2020 and quickly skyrocketed from $10 per share to over $40. Everyone was excited about its high revenue growth, eye-popping gross-profit margin, and large addressable market.
However, since surpassing $40 per share in early 2021, Skillz stock has been decimated. It fell over 60% in 2021 and is down almost 90% in 2022.
One might believe that Skillz's downside is limited from here. However, as you'll see below, I don't believe the company is poised to rebound in 2023. Indeed, it's facing what might be insurmountable challenges in the coming year.
Source Fool.com
