The Bottom Line: The iSportConnect Business Index – February 9
February 9, 2023
Welcome to this week’s edition of the iSportConnect Business Index, in a week the FTSE has hit a record high surpassing its previous peak in 2018.
That means it has been a positive week for the majority of the Index. We are getting rid of the winners and losers section and instead are going to focus on the stories that have caught our eye this week, in a section we are calling the movers and shakers. Index figures correct as of 8/2 am.
Movers and Shakers
DraftKings – up 16.945%
It’s amazing how a Super Bowl can generate huge betting interest and with LV11 on the horizon the numbers being gambled continue to astound and resulting in upgraded predictions for DraftKing’s upcoming quarterly results. It has been a hard Super Bowl to predict the Philadelphia Eagles are the better team and therefore command slight ‘favourite status’ but punters are reluctant to bet against the star power of Kansas City Quarterback Patrick Mahomes.
It’s promising to be a hugely positive commercial Superbowl on all fronts as advertising has replaced all the crypto brands revenues and figures being quoted remain very strong across all commercial channels.
Manchester United – down 6.341%
The timing of our Index means we miss out on the news that Qatari investors are potentially already in talks. This has seen a near 15% spike in the price. Given the Glazers want a reputed $6bn there is massive upside if they can achieve that. The market is saying they wont…..
Madison Square Garden Sports Group – down 0.418%
The New York based group have revealed they would be open to selling stake’s in both their Basketball team the New York Knicks or the Ice Hockey team the New York Rangers. “We have no plans to sell either team … but we would certainly not rule out the possibility of selling a minority stake in the Knicks or the Rangers,” said Madison Square Garden Sports president and COO David Hopkinson on Tuesday.
Disney – up 2.894%
Yesterday, CEO Bob Iger announced plans to cut the company’s workforce by 7,000 as part of a restructuring plan he believes will save the company $5.5 billion over the next few years. Their share price jumped 9% after the news was announced, unfortunately too late to be included in this week’s index.
