Stock Story -
What Happened: Shares of online casino and sports betting company Rush Street Interactive (NYSE:RSI) jumped 21% in the morning session after the company reported second-quarter earnings results. Rush Street Interactive blew past analysts' revenue and EPS expectations. The top line was driven by balanced contributions from icasino and online sports betting products. The quarter also saw a healthy growth in player base, especially in North America, where MAUs (monthly active users) came in at 164,000. Zooming out, this was an impressive quarter that should delight shareholders.
Is now the time to buy Rush Street Interactive? Find out by reading the original article on StockStory, it's free.
What is the market telling us: Rush Street Interactive's shares are very volatile and over the last year have had 42 moves greater than 5%. But moves this big are very rare even for Rush Street Interactive and that is indicating to us that this news had a significant impact on the market's perception of the business.
The biggest move we wrote about over the last year was 5 months ago, when the stock gained 35.6% on the news that the company reported fourth-quarter results that blew past analysts' revenue, operating margin, and EPS expectations. This was driven by more monthly active users than expected in its U.S. and Canada geographies (160,000 vs. estimates of 151,000).
Off the strength of this quarter, management shared encouraging full-year revenue guidance of $800 million, clearing Wall Street's projections of $759 million. Zooming out, this was a great quarter that shareholders will appreciate.
Rush Street Interactive is up 151% since the beginning of the year, and at $10.57 per share, has set a new 52-week high.
![Why Is Rush Street Interactive (RSI) Stock Soaring Today](https://d68-invdn-com.investing.com/content/pic8213af4e5892a358f26c572cf4e7bccd.jpeg)