Stock Take
Stock Take: Flutter’s move to Wall Street is no gamble
A bullish trading update last week led to a spike in the Paddy Power-owner’s share price and it could keep rising when the company lists in New York
Shares in Gambling giant Flutter, which owns Paddy Power, soared last week after the company said it expects to report total group revenue of £9.5 billion (€11 billion) for 2023.
By Friday shares in the group were up over 23 per cent since Monday.
It comes just ahead of the Paddy Power-owner’s listing on the New York Stock Exchange at the end of January.
In doing so it joins CRH, the Dublin-headquartered building materials giant, ...