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Rush Street Interactive, Inc. (RSI) Moves 9.6% Higher: Will This Strength Last?
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Rush Street Interactive, Inc. (RSI - Free Report) shares soared 9.6% in the last trading session to close at $7.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.6% loss over the past four weeks.
Shares of Rush Street Interactive appreciated after the company announced that its BetRivers online casino and sportsbook are live in Ontario, Canada.
This company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of -150%. Revenues are expected to be $135.8 million, up 21.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Rush Street Interactive, Inc., the consensus EPS estimate for the quarter has been revised 45.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RSI going forward to see if this recent jump can turn into more strength down the road.
Rush Street Interactive, Inc. is a member of the Zacks Gaming industry. One other stock in the same industry, Full House Resorts, Inc. (FLL - Free Report) , finished the last trading session 2.2% higher at $9.77. FLL has returned 14.1% over the past month.
For Full House Resorts, Inc., the consensus EPS estimate for the upcoming report has changed -120% over the past month to -$0.04. This represents a change of +69.2% from what the company reported a year ago. Full House Resorts, Inc. currently has a Zacks Rank of #3 (Hold).
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Rush Street Interactive, Inc. (RSI) Moves 9.6% Higher: Will This Strength Last?
Rush Street Interactive, Inc. (RSI - Free Report) shares soared 9.6% in the last trading session to close at $7.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.6% loss over the past four weeks.
Shares of Rush Street Interactive appreciated after the company announced that its BetRivers online casino and sportsbook are live in Ontario, Canada.
This company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of -150%. Revenues are expected to be $135.8 million, up 21.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Rush Street Interactive, Inc., the consensus EPS estimate for the quarter has been revised 45.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RSI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rush Street Interactive, Inc. is a member of the Zacks Gaming industry. One other stock in the same industry, Full House Resorts, Inc. (FLL - Free Report) , finished the last trading session 2.2% higher at $9.77. FLL has returned 14.1% over the past month.
For Full House Resorts, Inc., the consensus EPS estimate for the upcoming report has changed -120% over the past month to -$0.04. This represents a change of +69.2% from what the company reported a year ago. Full House Resorts, Inc. currently has a Zacks Rank of #3 (Hold).