On July 13, Flutter Entertainment rose 5.25% in regular trading, trading at $115.16/share, with turnover of $56.59 million. The stock continued its upward momentum following a high-profile endorsement from renowned investor Michael Burry.

Famed investor Michael Burry, the real-life figure behind The Big Short, recently disclosed that he has built a full-sized position in Flutter Entertainment and DraftKings, with approximately 60% allocated to Flutter at a cost basis of around $107 per share. Burry's thesis centers on the expectation that regulators will eventually crack down on emerging prediction markets such as Polymarket, which currently exploit regulatory gaps to compete with licensed sports betting operators. He characterized Flutter as a company with excellent operational performance and strong scale advantages, noting that while past capital misallocation hurt the stock, its fundamentals remain robust.

Additionally, Wedbush recently initiated coverage on Flutter with an Outperform rating and a $138 price target, and the company announced plans to delist from the London Stock Exchange effective August 3, consolidating trading exclusively on the NYSE.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)