Skillz has been among the biggest underperformers in the last six months. Its stock price has declined by 73% since the start of the year. The decline in monthly active users is the main reason why the stock is trading lower. For Q1 2021, the company’s total monthly active users declined to 2.7 million. The company has $4.864 billion in market valuation.
One of the factors that will accelerate the growth of Skillz’s monthly active users is its ability to expand into international markets. With a population of 1.2 billion, India is a big addressable market. Skillz has robust cash and cash equivalents of $693 million as of Q2 2021. With high financial flexibility, the company is well-positioned to capitalize on its organic growth and acquisition opportunities.
Finance and Entertainment Reporter
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