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Wednesday, November 25, 2020

500.com Limited (NYSE:WBAI) is Waving the Bull Flag

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500.com Limited (WBAI) shares are trading at higher $3.83.

To add more color to this target, the company’s high over the last year is $11.50 and the low is $2.84. Over the last 52 weeks, WBAI is down -66.70% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, WBAI reported a profit of $-0.13 million. 500.com Limited also saw revenues decrease to $0.43 million. In addition, WBAI has free cash flow of $0.0 as of 03-2020. The company’s EBITDA came in at -$5.19 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. WBAI has a short ratio of 33.39 and outstanding shares of 43.00M.

Company Outlook

WBAI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 59850.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.94. 500.com Limited WBAI also noted assets of $92.45 million at the end of the last quarter. Investors should also keep an eye on sector updates as WBAI has historically followed its peers on positive news.

All told, 500.com Limited WBAI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, WBAI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

500.com Limited WBAI is now commanding a market cap of 177.94M and a float of 21.27M. WBAI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of WBAI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in WBAI, either long or short, and we have not been compensated for this article.

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