10 Stocks Drop by Double Digits Mostly Due to Disappointing Earnings

5. Rush Street Interactive Inc. (NYSE:RSI)

Rush Street fell by 15.26 percent on Thursday to end at $11.27 apiece as investors appeared to have already priced in the company’s expected impressive earnings over earlier news that revenues from the online casino and gaming industry in 2024 soared to a new record, surpassing contributions from local and government agencies.

According to the American Gaming Association (AGA), American gaming reached an annual record of $71.92 billion in revenues last year, or a 7.5-percent increase from the $66.5 billion in 2023. The fourth quarter alone saw a new revenue record of $18.62 billion.

For its part, RSI swung to a net income of $6.5 million in the fourth quarter alone from a net loss of $5.45 million in the same period in 2023. It also posted a net income of $7.2 million in full-year 2024, reversing a net loss of $60.05 million in 2023.

Revenues for the quarter increased by 31 percent to $254.2 million from $193.9 million in the same period a year earlier, while revenues for the full-year period increased by 34 percent to $924.1 million from $691.2 million.