bettingmarket

A Veritable Goldmine

Those of us lucky enough to have been trading in gambling stocks during this period, will look back and remember the period as being something of a veritable goldmine. On the morning of 19 March 2020 shares in the William Hill Organisation were trading at 30p, battered in the coronavirus turmoil that saw all sectors and all asset classes sold off. Less than three months later and those investors that were brave enough to take the plunge and to bet that shares in William Hill were trading at or near the bottom were rewarded with gains of over 400%. Following a high of 165p on the morning of 8 June shares in gambling companies were subject of significant profit taking hit by fears of a second wave of COVID-19 infections in the United States and a bleak economic outlook by the Federal Reserve.