Movement Alert｜Flutter Entertainment PLC Falls 5.34% in Regular Trading, Hedge Fund Manager Michael Burry Fully Exits Position

Market Focus09-18

On September 18, Flutter Entertainment PLC declined 5.34% in regular trading, trading at $92.42 per share, with turnover of approximately $239 million. The sharp sell-off came amid mounting negative sentiment following a high-profile portfolio disclosure.

On the news front, renowned hedge fund manager Michael Burry recently disclosed that he has fully liquidated his entire Flutter Entertainment position, fueling concerns over the company's outlook. The move amplified existing bearish pressure: Citigroup had previously downgraded Flutter from Buy to Sell in April, and while it later raised the rating to Neutral in August, the target price was trimmed to $93. UBS also slashed its price target sharply to $160 from $300 earlier. Additionally, Flutter's subsidiary FanDuel faces ongoing product-liability litigation related to microbetting practices, adding to the risk profile.

Within the Casinos & Gaming sector, weakness was broad-based. Among major peers, DraftKings Inc. fell 6.39%, Churchill Downs dropped 1.40%, Wynn declined 0.55%, Las Vegas Sands slipped 0.18%, while Caesars Entertainment edged up 0.08%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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