Early last week - £15. Now £11.40 and falling. Is the bad UK weather, and thus cancellation of a lot of sporting events, particularly race meetings, the main reason behind it, or have some unfavourable pieces of advice made public by various brokerages hit hard?
Take a look at the price graph yourself, it's not pretty to look at if you are holding shares. A drop after the early flurry of trading was always to be expected with so many smaller shareholders ready to sell up after years of waiting, but the sharpness of the decline has to be concerning for the firm. It's an over-reaction if you ask me - they are making good progress in the US with racing authorities. It will be slow going and the US can only go state-by-state for them, so don't expect a massive surge any time soon. On the other hand, long-term profits should be solid enough for the price not to fall much further....Posted byScott Fergusonat17:49
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