{"id":1513464,"date":"2021-12-15T16:10:45","date_gmt":"2021-12-15T21:10:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=195571"},"modified":"2021-12-15T16:10:45","modified_gmt":"2021-12-15T21:10:45","slug":"endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise","status":"publish","type":"station","link":"https:\/\/platogaming.com\/plato-data\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise\/","title":{"rendered":"Endeavor Group Gets Nod from Cathie Wood\u2019s ARK Invest, Shares Rise"},"content":{"rendered":"\n<p>Shares of Endeavor Group Holdings, Inc. (NYSE:EDR), the parent company of the Ultimate Fighting Championship (UFC), have received an endorsement from a well-known investor. Cathie Wood&#8217;s ARK Investment Management stepped into the stock yesterday.<\/p>\n<figure id=\"attachment_195572\" aria-describedby=\"caption-attachment-195572\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-195572 size-full lazyload\" src=\"https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise.jpg\" data-src=\"https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise.jpg\" alt=\"Endeavor stock\" width=\"1200\" height=\"781\" data-srcset=\"https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-1.jpg 1200w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise.jpg 142w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-2.jpg 1024w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-3.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/> <noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-195572 size-full\" src=\"https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-1.jpg\" alt=\"Endeavor stock\" width=\"1200\" height=\"781\" srcset=\"https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-1.jpg 1200w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise.jpg 142w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-2.jpg 1024w, https:\/\/platogaming.com\/wp-content\/uploads\/2021\/12\/endeavor-group-gets-nod-from-cathie-woods-ark-invest-shares-rise-3.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/noscript><figcaption id=\"caption-attachment-195572\"class=\"text-description\">ARK Invest founder Cathie Wood, seen above. Her firm added shares of Endeavor stock to one of its ETFs. (Image: Kyle Grillot\/<em>Bloomberg<\/em>)<\/figcaption><\/figure>\n<p>The New York-based exchange traded funds issuer bought nearly 178,000 shares of Endeavor on Tuesday, directing that purchase to the ARK Next Generation ETF (NYSEARCA:ARKW). Endeavor stock, which is up 19.17 percent year-to-date, traded higher today following the ARK purchase, gaining 1.2% on volume that was above the daily average.<\/p>\n<p>Endeavor isn&#8217;t a pure play gaming company, nor does it accept wagers from bettors. But it is increasing its footprint on the businesses-to-business side of the industry.<\/p>\n<p>In September, the company announced the <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.casino.org\/news\/endeavor-paying-scientific-games-1-2-billion-for-openbet-unit\/\">$1.2 billion cash and equity purchase<\/a> of the OpenBet sports wagering service from Scientific Games (NASDAQ:SGMS). Endeavor also operates IMG Arena, which provides streaming video and data services to sportsbooks, indicating there are potential synergies by adding OpenBet to the mix.<\/p>\n<h2>Endeavor Stock Reasonable Addition to ARKW<\/h2>\n<p>The $4.74 billion ARKW is an actively managed fund, meaning it has holdings-level flexibility. The seven-year old fund has long focused on artificial intelligence, big data, cloud computing, e-commerce, and social media names, among others.<\/p>\n<div class=\"callout\">\n<p>However, Endeavor is one of four stocks in the fund with gaming exposure. ARKW is one of the <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.casino.org\/news\/ark-invest-buys-more-draftkings-genius-sports-as-stocks-swoon\/\">largest ETF owners<\/a> of DraftKings (NASDAQ:DKNG) and Genius Sports (NYSE:GENI) and also has a position in mobile games developer Skillz (NYSE:SKLZ), indicating Endeavor is a reasonable addition to the ARKW portfolio.<\/p>\n<\/div>\n<p>That quartet of gaming equities combines for about 5.4 percent of ARKW&#8217;s weight.<\/p>\n<p><strong>Endeavor also owns the Professional Bull Riders (PBR) and Euroleague. But the aforementioned IMG Arena business and the company&#8217;s growing sports betting exposure validates its inclusion in ARKW.<\/strong><\/p>\n<h2>Evaluating Endeavor<\/h2>\n<p>Endeavor stock is higher by 8.8 percent over the past month, indicating ARK is buying into strength in the sports and entertainment name.<\/p>\n<p>In addition to expanding its sports wagering exposure, the company recently created Diamond Baseball Holdings (DBH), which it&#8217;s using to acquire minor league baseball teams.<\/p>\n<p><strong>Last week, DBH announced the acquisitions of Triple-A affiliates of the Chicago Cubs, New York Yankees, and the St. Louis Cardinals, as well as the purchases of the Yankees&#8217; High-A affiliate and the San Francisco Giants&#8217; Single-A club.<\/strong><\/p>\n<p>Endeavor also has a pending deal to run four minor league teams attached to the World Series champion Atlanta Braves.<\/p>\n<p>\u201cEndeavor is also in late stage negotiations with a handful of other significant franchises and expects to announce those developments in due course,\u201d according to the company.<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\">Endeavor Group Gets Nod from Cathie Wood&#8217;s ARK Invest, Shares Rise<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n<p> <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\">Source: https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/<\/a><\/p>\n","protected":false},"author":1,"featured_media":1513465,"template":"","meta":{"_eb_attr":"","type":"","auto_type":false,"post":"","stream":"","stream_url":"","waveform_data":[],"duration":0,"bpm":0,"downloadable":false,"download_url":"","purchase_title":"","purchase_url":"","post-count-all":0,"like_count":0,"download_count":0,"editor_note":"","copyright":"","captions":[]},"genre":[102],"artist":[106],"mood":[],"activity":[],"station_tag":[3785,6319,6147,8104,7752,5253,5210,8386,8851,7398,7759,8110,5451,12033,3788,3739,3629,3792,5387,7373,5927,10585,5508,3632,8026,3634,3799,5979,10431,9462,11220,5730,3802,10447,11764,3879,5874,7399,3807,3638,7259,5463,6350,7376,8032,3812,3814,5218,177,5406,3819,3643,3715,5524,8707,5469,8611,10382,3751,6327,3646,11484,3719,5837,5736,3861,5819,5570,5537,5737,6334,3757,10672,3775,5484,3758,3725,3672,3867,5440,3674,3675,5778,8036,3887,5744,5491,6020,5745,5746,5493,5494,10500,8134,5960,6141,8330,6462,3690,5231,10896,3733,7766,11803,5640,3764],"_links":{"self":[{"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/station\/1513464"}],"collection":[{"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/station"}],"about":[{"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/types\/station"}],"author":[{"embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/media\/1513465"}],"wp:attachment":[{"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/media?parent=1513464"}],"wp:term":[{"taxonomy":"genre","embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/genre?post=1513464"},{"taxonomy":"artist","embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/artist?post=1513464"},{"taxonomy":"mood","embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/mood?post=1513464"},{"taxonomy":"activity","embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/activity?post=1513464"},{"taxonomy":"station_tag","embeddable":true,"href":"https:\/\/platogaming.com\/wp-json\/wp\/v2\/station_tag?post=1513464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}