Is Skillz a Good Esports Stock to Buy? By StockNews

© Reuters. Is Skillz a Good Esports Stock to Buy?

Mobile esports company Skillz (SKLZ) has been named in several controversies since it went public in December 2020. So, can its partnership with the National Football League (NFL) help it stay-afloat as the economy reopens? Let’s find out.Mobile e-sports company Skillz Inc. (SKLZ) went public in December 2020 by merging with blank-check company Flying Eagle Acquisition Corp. SKLZ’ shares surged to its all-time high of $46.30 on February 5, following its signing of a multi-year gaming agreement with the National Football League (NFL). However, it is currently trading 61.3% below its high.

SKLZ’s platform hosts several casual esports tournaments for games such as Tetris Clash, Solitaire Cube and Dominoes Gold. However, the company is not yet profitable, and several law firms are conducting investigations against it.

Furthermore, because the economy is reopening quickly, people are expected to spend less time on its esports platform. So, we think it’s wise to avoid the stock now.

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