Why Entain's Stock Could Skyrocket Soon

A recent investment conference in New York sparked some serious buzz about Entain, a UK-based company. Scott Ferguson, the founder of Sachem Head, shared his thoughts on why Entain's stock might double in the next few years. He believes that investors are essentially getting a free ride with BetMGM, the joint venture between Entain and MGM Resorts. BetMGM lets people bet on all sorts of sports, from football to soccer. Ferguson thinks that as more states legalize sports betting, BetMGM's value will skyrocket. He also noted that BetMGM has been smarter with its spending lately, focusing on investments that actually pay off.Sachem Head isn't the only one betting on Entain. Other big-name investors like Corvex Management, Eminence Capital, and Dendur Capital have also put their money into the company. These investors might push Entain to make some big moves, like buying out BetMGM or merging with MGM. But even if Entain doesn't make any major changes, Ferguson believes investors could still see gains. He thinks the company is in a good spot right now, and the future looks bright. With a market cap of nearly $7 billion, Entain's stock price could jump from around $11 to as high as $27 by 2028. Of course, there are no guarantees in the stock market. Entain's stock has lost value over the past five years, so it's not a sure thing. But with more investors jumping on board and the sports betting market expanding, Entain could be a smart bet for the future.