Ann: PBH Partners with Austin FC to Pursue Texas Market Access, page-19

you cant read a financial report of a growth co. like PBH and use the same basis of valuation as you would from a WOW.

PBH are building a brand and business from scratch, and any normal person understands and accepts this takes a lot of investment dollars, or else, we would all be starting oour own businesses and it would be easy and we would all get rich.

the growth % in clients and receipts are more important stats right now than the bottom line.

Draft Kings , a US25bn heavyweight in this market in a recent quarterly stated they didnt expect to be cash flow + until 2022/23 .

so im guessing based on your method of analysis they are a sell too ??

you are in the wrong sector if you purely and only look at a financial report.

on another note,
selling of late imo could be Penn. they did have their shares , at their request, released from escrow and my guess is perhaps they want to cash in to help fund their own growth and investment costs in the betting market.

thats not a bad thing, as im confident when this market enters the consolidation phase, PBH will be purchased for well north of $10