If You'd Invested $1,000 in Skillz in 2020, This Is How Much You Would Have
Back in December 2020, Skillz (NYSE: SKLZ) went public by merging with Flying Eagle Acquisition Corp., a special purpose acquisition company (SPAC) led by Hollywood industry veterans Harry Sloan and Jeff Sagansky.
The gaming platform company's stock started trading at $17.89 after the merger, then skyrocketed to an all-time high of $46.30 last February. But today it trades at about $3 per share. Therefore, a $1,000 investment in Skillz when it just started trading publicly would have briefly blossomed to nearly $2,600 before withering to just $170.
Let's review why Skillz initially attracted so much attention, why it quickly burned out, and whether or not it will ever recover.
Source Fool.com
