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Good Time To Buy Endeavour Group Shares? Maria Zadorin of Stone Bridge Ventures Responds

According to Stone Bridge Ventures senior account manager Maria Zadorin, it has been quite a week for one of the stocks on the ASX200. Last Friday, the stock closed the session priced at $6.26 per share, but on Monday, the price fell to an all-time low level of $5.45. Currently, the Endeavor Group Ltd share, ASX: EDV, is at a 52-week low.

Endeavour Group Ltd Share Price Drops 

Most people know of Endeavor Group as the company behind various bottle shop chains like Dan Murphy’s, Shorty’s, and BWS. Additionally, it runs various gaming operations in Australia. Since it separated from the Woolworths Group stock, ASX: WOW, in 2019, it appears on the ASX alone.

This Monday, Victoria’s government announced upcoming changes to their gambling laws, specifically poker machine laws. As a result, the stock took quite a hit. One of the propositions for the upcoming laws is to reduce the load-up to $100, a sharp decrease from $1,000. Another proposition is to close areas with gaming machines from 4 AM to 10 AM in all non-casino gaming venues.

Investors React Harshly After Proposed Changes To Gaming Laws

Upon hearing of the announcement, Maria Zadorin of Stone Bridge Ventures assumes that investors reacted quickly and sold off their stocks. As a result, the Endeavour Group share hit its current all-time low price, which is even lower than its 2021 IPO share price.

After Monday, the stock’s price did come back up over the remainder of the week. On Friday, the price reached $6.05 at the time of closing. Nevertheless, it still leaves the stock with a loss of 24.1 percent over the last year. While many investors with Endeavour Group stocks triggered a sell-off, others are wondering if this was an interesting opportunity to purchase the company’s shares at an all-time low price.

Current All-Time Low Price Could Be a Good Opportunity For Investors 

Maria Zadorin, a senior account manager at Stone Bridge Ventures, comments that this could be a good buying opportunity for this ASX200 stock. Even though the proposed changes to Victoria’s gaming laws could have a negative effect on Endeavour Group’s activities, it’s likely that the market is exaggerating these concerns. Therefore, there’s still the likelihood that purchasing these shares could prove beneficial in the long term.

For investors who are worried about the effects of these proposed changes, the best thing to do is to wait for details regarding implementation. They should also wait for comments from Endeavour Group before making major decisions to sell off their stocks. Further information from the company can allow investors to determine the extent of the effect these propositions can have and when these effects will occur.

Overall, Stone Bridge Ventures senior account manager Maria Zadorin considers it a suitable opportunity for investors who have been looking to buy into the company. And this is despite the fact that the share’s price has recovered considerably since its fall on Monday. Either way, only time will tell if investors who held on to their EDV shares made the right call.

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