March 8 - Wolfpack Research released a short report. The stock price fell about -11% on the day. March 18 - Public offering of 32,000,000 shares. The stock price fell about -9%. SKLZ has been heavily beaten down, currently sitting at roughly 60% down from all time highs. Cathie Wood/ Ark Invest added 745,700 shares to their position on Thursday, March 25, totaling just over 6 million shares.
I will look to long this stock for a few reasons.
3From a technical perspective, SKLZ is sitting on the 200EMA on the daily chart . This is a significant support level . In addition, it is also sitting on the 0.786 fib level, which is another important level of support. We seem to be in wave 2 of a 5 count elliot wave which should be about 60% retracement from the first big move. leads me to believe that the ~$18 level could very well be the bottom.