Wall Street Says 'Buy'... Major U.S. Sports Betting Stock Plummets Over 5% in a Day

Flutter Entertainment PLC (FLUT), the U.S. online sports-betting operator, traded down 5.7% from the prior session at $153.20 on the New York Stock Exchange, reflecting a notably weak performance.

Its market capitalization has contracted to roughly $26.8 billion (about ₩39 trillion), meaning approximately $1.4 billion (around ₩2.1 trillion) in value evaporated in a single day (currencylive.com).

On the same day, Canaccord Genuity reiterated its “Buy” rating for Flutter but cut its price target from $300 to $270. In the wake of that revision, the stock plunged to a fresh 52-week low (marketbeat.com).

Earlier, Zacks Research downgraded Flutter from “Hold” to “Strong Sell,” illustrating the divergent views among analysts despite generally lofty price targets (marketbeat.com).

Flutter Entertainment leads the U.S. online sports-betting market through its FanDuel platform and operates a portfolio of global gaming brands—including the UK’s Paddy Power and Betfair, as well as the PokerStars online-poker platform (stockanalysis.com).

Since U.S. legalization of sports betting, the company has expanded aggressively via marketing campaigns and acquisitions. However, its high promotional spend and exposure to regulatory risks in multiple jurisdictions are cited as drivers of volatility in both earnings and valuation.