Is Flutter Stock a Long-Term Buy?
When investors ponder the concepts of momentum trading or the momentum factor, it's often from a bullish perspective. That's not wrong, but momentum is agnostic. Like a roller coaster, it can soar or sink.
Flutter Entertainment (NYSE: FLUT) is in the latter camp. Call it the FanDuel falling knife (Flutter owns FanDuel). Down a staggering 48% year to date, the sports betting stock closed at $11.40 on March 3, or barely more than half of where it closed on Jan. 29, 2024, its first day of trading on the New York stock Exchange (NYSE).
This betting stock is in a bad way, making timing a rebound difficult. Image source: Getty Images.
Source Fool.com
