After months of steady selling and an acceleration since early January, shares of Flutter Entertainment plc (NYSE: FLUT) are now back at the levels they were at in 2020. The stock has effectively given up three years’ worth of gains, a brutal outcome for what was once viewed as one of the most exciting names in global online gambling.
This has not been a single-event collapse. Rather, it's been a grinding loss of confidence as investors reassess competition, profitability, and long-term potential. The result is an ugly-looking chart that is beginning to attract some contrarian attention. Is there an argument that the worst-case scenario is now priced in? Let’s take a closer look.
