We have a new player in the meme stock universe.
Skillz Inc. (SKLZ) is a leading mobile game platform that enables competition between millions of gamers worldwide. Skillz’ tournament platform allows people to compete in games and win real cash money or virtual currency.
So what makes Skillz a meme stock?
Well, it fits our basic meme stock criteria.
Skillz is widely discussed on Reddit WallStreetBets and the Facebook WallStreetBets Group.
It is also aggressively shorted. According to Marketbeat, 23.4% of SKLZ’ float is sold short.
So we have the basic APES vs. Hedgies battle going on.
Skillz is also a fairly volatile stock, as you can see in this daily stock chart:
It also has crazy expensive options, another hallmark of a meme stock, and a pretty expensive valuation.
So, as always – we are not making a buy or sell call. We are simply saying it’s one to keep on your radar.
What else is going on in meme stock land?
Well, AMC (AMC) is up this morning even with some movies getting pushed back.
Our buddy Tom Cruise just delayed “Top Gun: Maverick” from Thanksgiving 2021 to May 2022. And in turn, the next Mission Impossible goes from May 2022 to November 2022.
And “Jackass Forever” is going from October 2021 to February 2022.