But the share price for skillz

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2021-05-06

But the share price for skillz is dropping

Cathie Wood Loads Up on More Skillz Stock After Record Q1 Report

The star investment manager puts her money where her mouth is.

Cathie Wood Loads Up on More Skillz Stock After Record Q1 Report

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And that was apparently enough for Wall Street's current investment guru, Cathie Wood, to load up again on its stock.</p>\n<p>Wood's ARK Invest exchange-traded funds (ETFs) added another 3.1 million shares of Skillz yesterday (Wood's ETFs report their buys and sales daily), giving her nearly 15.6 million shares in total of the competitive-gameplay specialist.</p>\n<p><img src=\"https://static.tigerbbs.com/d9dcd970e1b1e9ef66ed2200f7e27796\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<p>Although Skillz saw its revenue rise in the first quarter, it also reported wider losses for the period, with adjusted EBITDA coming in at a loss of $31.1 million, compared to losses of $14.6 million a year ago.</p>\n<p>Still, the esports company was able to exceed its own expectations on paying monthly average users (MAUs), which came in at 467,000, some 17,000 more than it guided for last quarter. However, that was below the upper end of Wall Street's forecast of 469,000 MAUs.</p>\n<p>Last month, short-seller Eagle Eye Research issued a report questioning Skillz's revenue-recognition policies. Another short-seller, Wolfpack Research, questioned the value of its recent deal with the National Football League.</p>\n<p>Cathie Wood ended up coming to Skillz's defense, saying the allegations were \"either exaggerated or incorrect\" and stemmed from not understanding the esports company's business.</p>\n<p>Wood's <b><a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a></b> (NYSEMKT:ARKW) now owns 7.05 million shares of Skillz; her <b>ARK Innovation</b> (NYSEMKT:ARKK) owns over 8.51 million shares.</p>\n<p>While her purchases are yet another vote of confidence for Skillz, they don't comprise a particularly large portion of her funds' portfolios, amounting to no more than 1.92% in either of the two funds.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Loads Up on More Skillz Stock After Record Q1 Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Loads Up on More Skillz Stock After Record Q1 Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/cathie-wood-loads-up-on-more-skillz-stock-after-re/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Mobile esports platform Skillz (NYSE:SKLZ) recorded yet another quarter of rising revenue, the 21st consecutive quarter in which revenue jumped year over year. And that was apparently enough for Wall ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/cathie-wood-loads-up-on-more-skillz-stock-after-re/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/05/cathie-wood-loads-up-on-more-skillz-stock-after-re/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133255365","content_text":"Mobile esports platform Skillz (NYSE:SKLZ) recorded yet another quarter of rising revenue, the 21st consecutive quarter in which revenue jumped year over year. And that was apparently enough for Wall Street's current investment guru, Cathie Wood, to load up again on its stock.\nWood's ARK Invest exchange-traded funds (ETFs) added another 3.1 million shares of Skillz yesterday (Wood's ETFs report their buys and sales daily), giving her nearly 15.6 million shares in total of the competitive-gameplay specialist.\n\nImage source: Getty Images.\nAlthough Skillz saw its revenue rise in the first quarter, it also reported wider losses for the period, with adjusted EBITDA coming in at a loss of $31.1 million, compared to losses of $14.6 million a year ago.\nStill, the esports company was able to exceed its own expectations on paying monthly average users (MAUs), which came in at 467,000, some 17,000 more than it guided for last quarter. However, that was below the upper end of Wall Street's forecast of 469,000 MAUs.\nLast month, short-seller Eagle Eye Research issued a report questioning Skillz's revenue-recognition policies. Another short-seller, Wolfpack Research, questioned the value of its recent deal with the National Football League.\nCathie Wood ended up coming to Skillz's defense, saying the allegations were \"either exaggerated or incorrect\" and stemmed from not understanding the esports company's business.\nWood's ARK Next Generation Internet ETF (NYSEMKT:ARKW) now owns 7.05 million shares of Skillz; her ARK Innovation (NYSEMKT:ARKK) owns over 8.51 million shares.\nWhile her purchases are yet another vote of confidence for Skillz, they don't comprise a particularly large portion of her funds' portfolios, amounting to no more than 1.92% in either of the two funds.","news_type":1},"isVote":1,"tweetType":1,"viewCount":306,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}