ButcheredMost of the volume is over on the US side. This looks like institutions completely liquidating their positions. They bought because they thought this would be a growth story, especially after the recent acquistions were announced. Instead, it is a transformation story, and it will take 2 years to start seeing good results. 2018 for transition and 2019 for growth.
Also, US sports betting is probably 3-4 years away from making good money. Licensing, launching, marketing, all of that has done to be done first.
Anyone looking for quick growth is capitulating today.
The question is, how much further does it have to drop? At what level will we see buyers?
I don't think the stock will start to turn until full year 2019 guidance is realeased, whenever that may be.