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NS Jumbo Interactive Co., Ltd. (ASX: JIN) Stock prices are gradually rising throughout 2021.
However, online lottery operators are nearly 40% below record highs. This milestone retreated in October 2019, when shares reached $ 27 per share. Immediately after this, the company’s stock price reversed, causing it to plummet to $ 8.35 in five months.
Now that we’ve regained nearly half of that fall, are you buying Jumbo Interactive’s stock?
What about Jumbo Interactive’s stock price?
Jumbo stocks can be lower than in 2019, but lottery operator earnings are certainly not. The company’s revenue for the year ending June 30, 2019 was $ 65.2 million. Two years later, Jumbo increased that amount to $ 83.3 million.
This amount can be set to increase by one Fund manager We hope that the change to the Oz lottery will make the jackpot bigger. As Arden Jennings of Ausbil Investment Management points out, jumbo holds leverage exposure to larger jackpots.
In addition, the company’s efforts to expand internationally in recent years have entered the UK and Canadian lottery markets. Jennings wants to see Jumbo enter the US market next year or within two years with the acquisition of the US state lottery. As of the end of June, the company had $ 63.1 million in cash and cash equivalents on its books.
Currently, Jennings isn’t the only ASX lottery provider to find an attractive offer. In addition, the team behind Wavestone Capital chose Jumbo as an entry to the 2022 “The Golden Bull” stock picking contest.
Sydney-based fund managers love the potential stock price of Jumbo Interactive now that they have resigned from the license. From this, the investment team believes that the company will be able to retain new customers and exceed revenue expectations.
The company’s stock has rewarded investors and has returned 22% so far this year.
The stock price of Jumbo Interactive (ASX: JIN) is almost 40% lower than the highest ever. Are you buying?
Source link The stock price of Jumbo Interactive (ASX: JIN) is almost 40% lower than the highest ever. Are you buying?