Hot Stocks: Online gambling stocks fall; ROKU, RDFN plunge on earnings; APPN rises
Stocks suffered another day of losses on Friday. Online gambling stocks were dragged down by a disappointing forecast from DraftKings. Appian posted a double-digit percentage gain following the release of better-than-expected earnings. Sealed Air set a fresh 52-week high.
DraftKings delayed its profitability plan and its stock fell 22%. Other online gambling stocks also lost ground. - Golden Nugget Online Gaming (GNOG) posted a decline of more than 21%, Rush Street Interactive (RSI) dropped almost 7%, and Penn National Gaming retreated 4%.
APPN's stock rose 13% on better-than-expected earnings and guidance. APPN reported a narrower Q4 loss than expected and revenue rose 29%. The firm predicted a loss between $0.12 and $15 per share for Q1.
Roku shares plunged 22% after disappointing earnings and a dismal forecast. Roku is now down 67% in the past six months. APPN shares rose. Online gambling stocks fell. RDFN plunged on earnings. APP rose after a rise in gambling shares. iReport.com: Share prices are moving in a positive direction.
Sealed Air (SEE) climbed 3% on solid earnings and an upbeat forecast. SEE finished Friday's session at $69.31, a gain of $1.97 on the day. The stock set an intraday 52-week high of $70.37.
RDFN shares dropped 20% after reporting Q4 results that beat expectations but soft guidance. The stock has lost 76% of its value in the past year. RDFn's stock hit a 52-week high of $98.44 last February.