small-cap gaming names<\/a>, Everi stock is being wrecked this month by the aforementioned gaming property closures. On March 3, the company had a market capitalization of $837 million. At this writing Wednesday, March 25, that figure is just $298 million.<\/p>\nUnderscoring the punishment Everi stock is enduring, the name is up more than 65 percent over the past week, but remains down 68 percent year-to-date. The shares would need to more than triple from current levels to return to the 52-week high of $14.88.<\/p>\n
In a note out March 19, Stifel analyst Brad Boyer said Everi has the cash to self-sustain for 13 to 16 weeks, and should a worst-case scenario arrive, the company can probably survive several weeks beyond that.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Everi Holdings (NYSE:EVRI) is joining a growing list of gaming companies in withdrawing 2020 financial guidance due to the impact the coronavirus pandemic is having on the industry. The maker of gaming machines, payment solutions, and software also said it has drawn $35 million on a bank credit line to bring cash onto its balance […]<\/p>\n","protected":false},"author":46,"featured_media":131087,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Everi Becomes Latest Gaming Company to Yank 2020 Guidance<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n