Rush Street Interactive Stock Rallies as Colombia Concerns Abate (Casino.org)

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The stock slumped last Friday on fears regarding a Colombian tax plan It rebounded somewhat Monday as confusion waned Rush Street Interactive (NYSE: RSI) is one of Monday’s gaming stock standouts amid a relief rally following a significant pullback last Friday. The Rush Street Interactive corporate logo. The stock rebounded Monday following a Friday selloff. (Image: Rush Street Interactive) In midday trading on Monday, shares of the Illinois-based online sportsbook and internet casino operator are higher by more than 7% on volume that appears poised to exceed the daily average, marking a fair recovery following a 15% tumble last Friday. That slide was attributed to confusion over Colombia’s value added tax (VAT) scheme pertaining to online wagering and what some market participants are describing as unusual options activity in the gaming stock. Benchmark analyst Mike Hickey argued the October 17 sell-off wasn’t an indictment of Rush Street Interactive’s solid fundamentals. Because the tax is already being collected under an emergency…Read MoreCategory: Financial, Latin America Gaming, latin america gamingSource: Casino.org

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