{"id":195571,"date":"2021-12-15T13:10:45","date_gmt":"2021-12-15T21:10:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=195571"},"modified":"2021-12-15T14:08:35","modified_gmt":"2021-12-15T22:08:35","slug":"endeavor-stock-makes-its-way-into-ark-internet-etf","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/","title":{"rendered":"Endeavor Group Gets Nod from Cathie Wood’s ARK Invest, Shares Rise"},"content":{"rendered":"

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’s ARK Investment Management stepped into the stock yesterday.<\/p>\n

\"Endeavor
ARK Invest founder Cathie Wood, seen above. Her firm added shares of Endeavor stock to one of its ETFs. (Image: Kyle Grillot\/Bloomberg<\/em>)<\/figcaption><\/figure>\n

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

Endeavor isn’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

In September, the company announced the $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

Endeavor Stock Reasonable Addition to ARKW<\/h2>\n

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

\n

However, Endeavor is one of four stocks in the fund with gaming exposure. ARKW is one of the 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

That quartet of gaming equities combines for about 5.4 percent of ARKW’s weight.<\/p>\n

Endeavor also owns the Professional Bull Riders (PBR) and Euroleague. But the aforementioned IMG Arena business and the company’s growing sports betting exposure validates its inclusion in ARKW.<\/strong><\/p>\n

Evaluating Endeavor<\/h2>\n

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

In addition to expanding its sports wagering exposure, the company recently created Diamond Baseball Holdings (DBH), which it’s using to acquire minor league baseball teams.<\/p>\n

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’ High-A affiliate and the San Francisco Giants’ Single-A club.<\/strong><\/p>\n

Endeavor also has a pending deal to run four minor league teams attached to the World Series champion Atlanta Braves.<\/p>\n

\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","protected":false},"excerpt":{"rendered":"

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’s ARK Investment Management stepped into the stock yesterday. The New York-based exchange traded funds issuer bought nearly 178,000 shares of Endeavor on Tuesday, directing that purchase to the ARK […]<\/p>\n","protected":false},"author":46,"featured_media":195572,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\nEndeavor Stock Makes Its Way Into ARK Internet ETF<\/title>\n<meta name=\"description\" content=\"Endeavor stock is latest gaming equity added to an ARK Investment Management fund.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Endeavor Stock Makes Its Way Into ARK Internet ETF\" \/>\n<meta property=\"og:description\" content=\"Endeavor stock is latest gaming equity added to an ARK Investment Management fund.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-15T21:10:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-15T22:08:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/CW2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"781\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\",\"url\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\",\"name\":\"Endeavor Stock Makes Its Way Into ARK Internet ETF\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/CW2.jpg\",\"datePublished\":\"2021-12-15T21:10:45+00:00\",\"dateModified\":\"2021-12-15T22:08:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Endeavor stock is latest gaming equity added to an ARK Investment Management fund.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/endeavor-stock-makes-its-way-into-ark-internet-etf\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/CW2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/CW2.jpg\",\"width\":1200,\"height\":781,\"caption\":\"ARK Invest founder Cathie Wood. 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