Why Skillz Stock Died Yesterday and Revived Today

Rich Smith, The Motley Fool
·1-min read
Why Skillz Stock Died Yesterday and Revived Today

Shares of mobile games platform Skillz (NYSE: SKLZ), the successful 2020 SPAC IPO that's lost most of its gains over the last couple of months, are taking investors for another wild ride this week. Yesterday, Skillz stock dropped 11.1% below its Friday close on no apparent bad news. Skillz hasn't ever earned a profit, and its losses and cash burn surged last year (partly as a consequence of expenses incurred during the IPO).