Is PointsBet (PBH) worth a punt?
Hi James,
Keen on your thought for PBH moving forward. Clearly on the nose after the capital raise but I’m pretty bullish on it medium term.
Thoughts?
Regards
Scott Donald
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Answer
Hi Scott,
MM indeed holds PBH in our Emerging Companies Portfolio and like yourself we are optimistic on its prospects moving forward, this may be one where patience is required but we like the deals and inroads the companies making into the US – they’re going big in a big market. The share price is function of the recent capital raise I suspect – at $400m it was huge for PBH. I put a bid into the institutional book (granted it was through a competing broker but a mate there) and got zero i.e. the demand was very strong at the time.
