Why Skillz Plunged 35.2% in July

Shares of Skillz (NYSE: SKLZ) plummeted 35.2% in July, weighed down by doubts raised from stock-shorting hedge funds, the availability of warrants that will dilute existing shareholders' stock, and investment management favorite Cathie Wood dumping a large tranche of shares. All of that was occurring as the mobile esports platform headed toward an Aug. 3 earnings-release date that would also weigh on Skillz shares. Earlier this year, two negative reports were issued alleging Skillz management concealed the fact that revenue from its three most important games -- Blitz, Solitaire Cube, Blackout Bingo -- had plummeted.