Bluebet Holdings Ltd (ASX: BBT)The first small cap ASX share to...

Bluebet Holdings Ltd (ASX: BBT)The first small cap ASX share to look at is sports betting company, Bluebet.It’s fair to say that 2022 has not been kind to the Bluebet share price. A selloff of sports betting shares globally has led to its shares losing almost 50% of their value since the turn of the year.While this is disappointing, the team at Morgans remains positive and appears to see this a buying opportunity for long term focused investors. It currently has an add rating and $1.60 price target on its shares.It commented: “BBT has materially de-rated (FY22 EV/Revenue of 1.6x) in recent months as online sports betting (OSB) peers have come under significant valuation pressure. We remain confident that BBT will retain a disciplined approach in its dual track growth strategy and think this differentiated model will support a re-rating as a track record is established.”



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So keep the faith guys there is no way sullivan would have spent $750,000 buying more shares at like 67c if he though BBT would go broke, we might not get back to $2.50 anytime soon, but it can easily get back over $1 again very quickly when the tide turns.