Codere Online Luxembourg, S.A. (NASDAQ:CDROW) Sees Large Decline in Short Interest

Codere Online Luxembourg, S.A. (NASDAQ:CDROW) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 4,564 shares, a drop of 46.2% from the September 30th total of 8,488 shares. Based on an average daily volume of 18,365 shares, the days-to-cover ratio is currently 0.2 days.

Codere Online Luxembourg Price Performance

CDROW stock traded down $0.01 during mid-day trading on Friday, reaching $0.10. 200 shares of the stock traded hands, compared to its average volume of 14,117. Codere Online Luxembourg has a 52-week low of $0.05 and a 52-week high of $0.98. The stock’s fifty day moving average is $0.40 and its 200-day moving average is $0.66.

Codere Online Luxembourg Company Profile

Codere Online Luxembourg SA is an online gaming company that operates under the Codere brand. The company offers internet-based sports betting and casino gaming through websites and mobile applications, providing customers with access to betting markets on major sporting events and a range of online casino products.

Codere Online developed from the digital gaming operations of Codere Group, a multinational gaming company with a history in retail betting and gaming. The online business began expanding in Spanish-speaking markets during the 2010s and became a publicly traded company in the United States in 2021 through a business combination with a special purpose acquisition company.

The company primarily serves customers in regulated markets across Latin America and Europe, including Spain, Mexico, Colombia and Argentina, with its available products and operations subject to local licensing requirements.