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Betfair shares battling to fight back

Early in the week Betfair shares cracked the £10 mark again for the first time in a while, things were starting to look up, particularly on the back of some hard work promoting the company to its float partners last week. But that price took a real pounding yesterday, dropping back to 917p overnight, with a 15p recovery so far this morning. What triggered it? Did the market panic over another cold spell which may cause racing cancellations? Did some 'expert' analyst put out a sell call or did the market not like Betfair's association with sacked Sky pundit Andy Gray?

Who knows - I've given up trying to predict what the stock market will do on a day-to-day basis...
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Comments

  1. Sports Punter28 January 2011 at 13:09

    http://www.gamblingcompliance.com/node/45757

    Looks like this could be the cause.

    ReplyDelete
  2. Scott28 January 2011 at 17:13

    interesting. It just highlights how irrational and up their own arses (and how much the govt is in their pocket) local 'monopolies' such as SNAI are. Horse racing bets might be being placed from Italy, but they sure as hell aren't on Italian racing... Chalk and cheese, and a reputable court would boot that argument out in three seconds! Use the argument that Betfair aren't allowed to operate an exchange to Italian customers sure, but arguing that the money traded on UK racing because of the strong liquidity would transfer to Iocal, poor-quality Italian racing is farcical.

    The share price climbed for a while today, then dropped sharply to close the day on 902.5p, dangerously close to their worst figure of 889p....

    ReplyDelete
  3. Anonymous30 January 2011 at 17:47

    I think these shares and going to keep falling. Mark my words. Dont buy yet punters. They are going to keep dropping.

    ReplyDelete

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