Why Skillz Stock Plunged Today

1 min read

Shares of mobile-gaming platform company Skillz (NYSE: SKLZ) plunged on Wednesday, possibly due to some confusion regarding the redemption of the company’s warrants. However, a lot of other stocks were also down sharply during the session, so perhaps the majority of Skillz’s plunge was just due to general market volatility. Either way, the stock closed 14% lower.

According to a filing with the Securities and Exchange Commission Tuesday, Skillz appeared to be redeeming its public warrants. However, the filing was a mistake. According to a new filing with the SEC Wednesday, Skillz described the prior filing as “the result of human error by the financial printer.” For the record, a financial printer is a company that helps with documents as private companies transition into the public markets.

Image source: Getty Images.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Today’s Mortgage Refinance Rates — March 16, 2021: Rates See Very Slight Increase

Next Story

Why CASI Pharmaceuticals Is Crashing Today

Latest from Blog