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16 Stocks Moving In Tuesday's After-Hours Session

Tyree Gorges
·2 mins read

Gainers

  • Astrotech (NASDAQ: ASTC) shares are trading higher after the company announced it partnered with The Cleveland Clinic to develop a rapid COVID-19 breath test.

  • Texas Instruments (NASDAQ: TXN) shares are trading higher after the company reported better-than-expected Q3 EPS and sales results.

  • Snap (NYSE: SNAP) shares are trading higher after the company reported better-than-expected Q3 EPS and sales results. The company reported Q3 DAUs of 249 million, up 18% year over year.

  • Pinterest (NYSE: PINS) shares are trading higher in sympathy with Snap after the company reported better-than-expected Q3 earnings results and an increase in DAUs.

  • Facebook (NYSE: FB)  shares are trading higher in sympathy with Snap after the company reported better-than-expected Q3 earnings results and an increase in DAUs.

  • Twitter (NYSE: TWTR) shares are trading higher in sympathy with Snap after the company reported better-than-expected Q3 earnings results and an increase in DAUs.

  • Xeris Pharmaceuticals (NASDAQ: XERS) shares are trading higher after the company announced it was granted Fast Track designation by the FDA for its novel concentrated diazepam formulation (XP-0863) for injection.

  • WD-40 (NASDAQ: WDFC) shares are trading higher after the company reported better-than-expected Q4 EPS and sales results.

  • The Container Store Group (NYSE: TCS) shares are trading higher after the company reported Q2 EPS of $0.41, up from $0.08 year-over-year and better-than-expected sales results.

  • Prothena (NASDAQ: PRTA) shares are trading higher after the company reported, based on positive signals of efficacy consistent with disease modification in the PASADENA study, Roche and Prothena plan to advance prasinezumab into a Phase 2b study.

  • Usana Health Sciences (NYSE: USNA) shares are trading higher after the company reported better-than-expected Q3 EPS and sales results. The company also raised FY20 EPS and sales guidance.

Losers

  • Netflix (NASDAQ: NFLX) shares are trading lower after the company reported worse-than-expected Q3 EPS results. The company reported it added 2.2 million net memberships in Q3 compared to the company's 2.5 million guidance.

  • Roku (NASDAQ: ROKU) shares are trading lower in sympathy with Netflix after the company traded lower on its Q3 earnings results and guidance.

  • Parsley Energy (NYSE: PE) shares are trading lower after Pioneer Natural Resources announced an agreement to buy Parsley Energy for $4.5 billion in an all-stock transaction.

  • Navient (NASDAQ: NAVI) shares are trading lower after the company reported worse-than-expected Q3 sales results.

  • Interactive Brokers (NASDAQ: IBKR) shares are trading lower after the company reported Q3 earnings results.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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As they do, the iGaming market will go from niche today… to enormously mainstream by 2030, fundamentally transforming what will one day be a $100 billion U.S. gambling market. Golden Nugget Online Gaming is a Market Leader Golden Nugget Online Gaming is one of five leading players in New Jersey’s established iGaming market, with the other operators being DraftKings (super richly valued), FanDuel (private), MGM (part of a bigger casino operator) and Caesars (also part of a bigger casino operator). To that end, then, Golden Nugget Online Gaming is the only reasonably valued, public pure-play on the iGaming boom. By itself, that’s an attractive reason to buy LCA. But it’s really just the tip of the iceberg when it comes to LCA stock, and in order to understand the full bull thesis here, we need to understand Golden Nugget Online Gaming’s history. You may recognize the “Golden Nugget” part of the company’s name. That’s because it’s a large casino brand with properties in Las Vegas and Atlantic City, which itself is part of a bigger hospitality company named Landry’s that owns 600 shopping outlets, 3 hotels, 2 amusement parks, and 5 casinos across America. Golden Nugget Online Gaming – or GNOG, for short – is a pure iGaming spin-off of that larger physical casino business. GNOG offers virtual poker, virtual black jack, virtual slots and much more through a desktop website and mobile application. Today, the company operates exclusively in the New Jersey iGaming market, where it controls about 13% of the market, making it tied for the second largest iGaming platform in New Jersey. Of course, the bull thesis on LCA is that Golden Nugget will be able to leverage competitive advantages to sustain ~10% share of the iGaming market as that market booms and goes national in the 2020s, with the big upside potential coming the divergence between the market opportunity here ($100 billion) and Golden Nugget’s current market cap ($900 million, based on the LCA stock price today). I think that’s totally doable — and if it happens, LCA could rise more than 10X. Competitive Advantages will Sustain Market Leadership Golden Nugget Online Gaming has four significant competitive advantages which should help this company sustain roughly 10% market share as the iGaming market scales and expands in the 2020s. First, Golden Nugget has a branding advantage over sports-first platforms like DraftKings and FanDuel. That is, consumer perception today is that DraftKings and FanDuel are places where you do daily fantasy sports and online sports betting. Their branding isn’t affiliated strongly with the iGaming market. Golden Nugget’s is — both because Golden Nugget Online Gaming’s marketing is casino-first and because the name is Golden Nugget. Second, Golden Nugget has a content edge over peer online casino platforms. Golden Nugget has 870 casino titles on its platform, which is 130 more than anyone else in this space. A lot of those titles are also exclusive to Golden Nugget. The company launches upwards of a dozen new exclusive casino games every year, giving the company a formidable and growing content moat. Third, the company has a customer service edge. Golden Nugget’s customer satisfaction rating is 96% while inbound answer rates are 95% — and those two metrics are very important because in the iGaming world where consumers are betting real money on dynamic games, customer service is of utmost importance. So long as Golden Nuggets keeps killing it on this front, the platform will continue to foster exceptional customer loyalty. Fourth, Golden Nugget has a business edge over everyone thanks to something called a “Live Dealer Studio” – which, as the name implies, enables virtual tables players to interact with a live dealer via visual and audio (the company has entire “ghost” casinos set up with just dealers, tables, and cameras). Thanks to these four compelling competitive advantages, it seems very likely that Golden Nugget will sustain ~10% share of the iGaming market for the foreseeable future. If that happens, LCA stock will soar over the next few years. Golden Nugget Stock has 10X Upside Potential The math behind potential 10X gains in LCA isn’t hard to follow. The U.S. gambling market measured roughly $80 billion in 2018. It has grown at a fairly consistent 3% compounded annual growth rate since 2004. Assuming this growth cadence persists, then the market will measure at least $100 billion by 2030. Given how seamlessly the gambling process can be digitized — and how high-quality that iGaming experience is — it’s quite likely that ~20% of the global gambling market gets digitized by the end of the decade. That implies a U.S. iGaming market of $20 billion by 2030. If Golden Nugget controls ~10% of that market, that further implies $2 billion in gross gaming revenue by 2030. Adjusted EBITDA margins today hover around 30%. Economies of scale should push that up to 40% at scale. That math makes $600 million in net profits seem doable by 2030. The market’s five-year-average forward earnings multiple is right around 17X. A 17X multiple on $600 million in 2030 net profits implies a decade-end valuation for Golden Nugget of over $10 billion. Based on the LCA stock price today, Golden Nugget is being valued at just $900 million. Bottom Line on LCA Stock Forget DKNG stock. If you’re bullish on the iGaming revolution like me, then instead of chasing overbought and overvalued DKNG stock here and now, go out and take advantage of recent weakness in LCA. The potential upside in this name over the next decade is enormous. On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.  The New Daily 10X Stock Report: 98.7% Accuracy – Gains Up to 466.78%. InvestorPlace’s brand-new and highly controversial newsletter… is rocking the industry… delivering one breakthrough stock recommendation each and every trading day… delivered straight to your inbox. 98.7% Accuracy to Date – Gains Up to 466.78%. Now for a limited time… you can get in for just $19. Click here to find out how. More From InvestorPlace Forget The Election… Pick These Stocks for the Win in 2021 Why Everyone Is Investing in 5G All WRONG America’s #1 Stock Picker Reveals His Next 1,000% Winner Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company The post Buy Golden Nugget Online Gaming Stock for Its 10X Potential appeared first on InvestorPlace.

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