This time last year, Skillz was trading around $33. SKLZ stock has lost more than 90% of its value.
This gaming platform company burned a lot of optimistic investors.
Skillz announced a new cloud-based gaming strategy during its recent Investor Day Presentation, potentially bypassing Google App Store regulations.
People like to bet. Skillz lets people legally bet on their video game play and win money. It's an entirely new form of entertainment and growing like crazy.
These facts can help explain why the stock has crashed 92% off its high.
Skillz has spent more than 100% of its revenue on sales and marketing with mediocre results.
That target would be a massive increase from its current user totals.

Why Skillz Is Rocketing 30% Higher This Week

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The mobile gaming platform finally has a business model it thinks can be profitable.

Why Skillz Is Rising for a Second Straight Day

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The mobile gaming platform revealed some exciting developments during its Investor Day presentation yesterday.
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SKLZ stock has disappointed investors with sluggish growth in active users. But global expansion and a strong balance sheet provide hope.
Skillz stock is in danger of becoming a penny stock after its latest results. SKLZ stock has nowhere to go but down unless Skillz management can get its marketing expenses under control.

Skillz Stock: A Glimmer Of Hope

06:32pm, Thursday, 10'th Mar 2022 Seeking Alpha
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