Archive for December, 2007
One of the world’s most popular online game gambling casinos is currently experiencing slumping stock prices, with shares dropping to below 120p in the FTSE last week, down from a high of 178p last year.
The drop in stock prices comes at a time of widespread fear of legislation against online game gambling casinos in the U.S. Congress. Virginia congressmen Bob Goodlatte and Rick Boucher have introduced a bill which aims to ban online game gambling casinos by prohibiting U.S. financial institutions from doing business with online casinos. The issue will be decided in the current session.
Several U.S. investment firms, however, have given the online game gambling casinos company a positive rating. ABN Amro upgraded its recommendation to buy last week, and predicted a 160p value. Dresdner Kleinwort Wasserstein also maintained that the current slump is merely a blip in the system, predicting increasing stock prices. Likewise, Morgan Stanley gave the online game gambling casinos company a positive rating.
Lehman Brothers recommendation went against the general trend. Lehman Brothers analyst Craig Fraser said that the online casino stock has been overbought and overvalued, and predicted that it will continue to fall.
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