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Codere Online Luxembourg, S.A. (CDRO): A Bull Case Theory

We came across a bullish thesis on Codere Online Luxembourg, S.A. (CDRO) on Twitter by @puppyeh1. In this article, we will summarize the bulls’ thesis on CDRO. Codere Online Luxembourg, S.A. (CDRO)'s share was trading at $7.47 as of Nov 7th.

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CDRO operates as a B2C iGaming business across two distinct markets: Spain and Mexico. These markets vary in maturity and growth rates, but both hold considerable promise. Notably, CDRO is net cash positive with €41 million and has an...