“We see in gaming where some sports betting company stocks are selling at 20 and 30 times future sales, no less earnings. And that is sales three and four and five years down the road. If we should have learned anything by the unpredictable events of 2020 it is that we cannot, with assurance or specificity, forecast three and five years out.”—stock analyst Frank Fantini, sounding a note of caution amidst a generally bullish forecast for the new year.
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I agree, it does not seem to be sound thinking to base the future on pandemic gambling conditions, it could just be pent up demand for action met mobile sports betting apps that allowed wagering in the safety of your home. Of course I was also a naysayer about tech stocks in the 1990’s trading on future earnings, had I not been a skeptic I might be tolling around town in a Maybach…