Giannis Antetokounmpo Becomes Shareholder of Kalshi
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4h ago
0mins
Should l Buy RDDT?
Source: Benzinga
- Investor Status: Milwaukee Bucks forward Giannis Antetokounmpo announced his investment in New York-based prediction market platform Kalshi, becoming the first NBA player to directly invest in the company, marking a new trend of athlete engagement in fintech.
- Investment Terms: Under the NBA's collective bargaining agreement, players can hold up to 1% stakes in sports betting companies, and Antetokounmpo's investment complies with this rule while he will also engage in Kalshi's marketing and live events.
- Market Impact: His investment has sparked discussions on social media, particularly on platforms like Reddit, indicating that athletes' influence and participation in financial markets are on the rise, potentially attracting more athletes to the fintech sector.
- Collaboration Outlook: Kalshi's partnership with Antetokounmpo will focus on marketing and event promotion, and although he is restricted from trading in NBA-related markets, this collaboration is expected to enhance Kalshi's brand visibility and expand its user base.
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Analyst Views on RDDT
Wall Street analysts forecast RDDT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RDDT is 260.00 USD with a low forecast of 207.00 USD and a high forecast of 325.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
14 Buy
8 Hold
0 Sell
Moderate Buy
Current: 151.050
Low
207.00
Averages
260.00
High
325.00
Current: 151.050
Low
207.00
Averages
260.00
High
325.00
About RDDT
Reddit, Inc. operates a social platform, Reddit. Reddit is a community of communities. It is built on shared interests, passion, and trust and is home to open and authentic conversations on the Internet. Reddit is a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. Reddit has thousands of communities, endless conversations, and authentic human connections. Communities on Reddit are organized based on specific interests and are called subreddits. Reddit offers real-time access to evolving and dynamic topics, such as sports, movies, news, fashion, and the latest trends. On Reddit, users can submit, vote, and comment on the topics they care about. It has approximately 100,000+ active communities and approximately 101+ million daily active visitors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Investor Status: Milwaukee Bucks forward Giannis Antetokounmpo announced his investment in New York-based prediction market platform Kalshi, becoming the first NBA player to directly invest in the company, marking a new trend of athlete engagement in fintech.
- Investment Terms: Under the NBA's collective bargaining agreement, players can hold up to 1% stakes in sports betting companies, and Antetokounmpo's investment complies with this rule while he will also engage in Kalshi's marketing and live events.
- Market Impact: His investment has sparked discussions on social media, particularly on platforms like Reddit, indicating that athletes' influence and participation in financial markets are on the rise, potentially attracting more athletes to the fintech sector.
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Strategic Focus: The company is looking to identify and acquire capabilities, technologies, and companies that align with its strategic goals.
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- Investor Status: Milwaukee Bucks forward Giannis Antetokounmpo announced his investment in New York-based prediction market platform Kalshi, becoming the first NBA player to directly invest in the company, marking a new trend of athlete engagement in fintech.
- Investment Terms: Under the NBA's collective bargaining agreement, players can hold up to 1% stakes in sports betting companies, and Antetokounmpo's investment complies with this rule while he will also engage in Kalshi's marketing and live events.
- Market Impact: His investment has sparked discussions on social media, particularly on platforms like Reddit, indicating that athletes' influence and participation in financial markets are on the rise, potentially attracting more athletes to the fintech sector.
- Collaboration Outlook: Kalshi's partnership with Antetokounmpo will focus on marketing and event promotion, and although he is restricted from trading in NBA-related markets, this collaboration is expected to enhance Kalshi's brand visibility and expand its user base.
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