Wait for the pullback.... BUT..... the Canada Pension Plan Investment Board has taken a 47% ownership stake in SportRadar Group AG. 47%! https://archive.fast-edgar.com/20230214/AWB2362C8M22TZZ2222R2ZZZ2M3QR2S2D252/ SRAD $12.90 Today someone bought 50,000 shares in one block-trade @$12.80 Two smaller trades too, 6K total @ $13.02 It's a thinly traded stock so these purchases are worth noting imo. Longtime readers of GBA know I found this stock before it went public in early 2021. It turned down a SPAC offer and came to market via normal ipo in the Fall of 2021 around $28 and proceeded straight downhill to a bottom of $8. This is a Swiss based tech company that basically sells the picks and shovels to the sports betting industry. They wrote the book on in-app betting. Lots of big name partners. https://sportradar.com/?lang=en-us Do your own DD, I think it will pullback, but the fact that the Canada Pension Plan Investment Board bought almost half of the company is notable. Also note however, it appears they bought in the $9-$10 range. So, they are already up nicely. Earnings on 3/15 This thing won't move fast, it's more of a buy, hold, and keep up with the story type stock. Ie listen to the CC's etc. They do make money, and as a software company, those net margins will only get better as more business hits the top line. No debt either. Always a plus. Again... do your own DD.
Pension funds investing in a particular company doesn't guarantee that it's a good investment. Take the investment done by the CDPQ in Celsius Network not too long ago...
Yeah... 100%. There's tons of examples like that. How many owned GE? Plus it's Canadians.... not the sharpest tools in the shed. (j/k freddie) It is a sizeable stake in one company though, but I guess to a degree it also depends on the size of the total aum's of that pension fund as to the level of their risk tolerance in this trade. One would think they did some serious DD... or maybe they know something. Right now, Canada only allows for single event sports betting, and even that is relatively new... maybe an upgrade to keep up with their neighbors to the south is in the works? . ¯\_(ツ)_/¯
Let me throw out one thing here, I feel it's the responsible thing to do. Stocks like this, or any stocks for that matter... I presented this stock on the premise that the broader tide will stay in. That is in no way shape or form a given. In fact, if I had to bet, it is NOT going to stay in. How long that will take to manifest itself(?).... no idea. But odds are--- I think w/i 2 years tops. Tops. One thing to remember... If we ever do wake up to a huge drop.... And I don't mean a few percent, I mean a biggie.... trust me on this... don't btfd. I can promise it will be followed by a drop of equal, if not greater magnitude. History repeats... there's nothing new under the sun. We're close. Plan accordingly.