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Because the NFL season is now in full swing, sports betting stocks like RSI are expected to attract increased investor attention. However, RSI faces intense competition from other players in the budding industry. Moreover, SPACs are subject to increased scrutiny from regulators. According to data from Woodruff Sawyer, shareholder lawsuits against post-merger SPACs rose to 15 through the first half of 2021, tripling from just five in 2020. In addition, according to a CFO Dive report, SPAC IPOs plunged 87% during the second quarter. Hence, RSI could also be negatively impacted.
The company reported losses in the second quarter. In addition, hedge fund interest in the stock declined recently. So, RSI’s near-term prospects don’t look very promising.
