FLUT

In the past six months (March 2026 - September 2026), Flutter Entertainment Plc's stock price has experienced a substantial decline, plunging 57% year-to-date in 2026 and approximately 68.52% over the past year, trading near its 52-week lows. Key events contributing to this downturn include four consecutive cuts to its 2026 guidance, notably a 22% cut to FanDuel's midpoint EBITDA guidance for 2026, leading to a 7% reduction at the group level, with management indicating 2026 as a 'transitional year' and 2027 targets being 'pushed out'. Rothschild & Co Redburn downgraded Flutter's stock to 'Neutral' from 'Buy' in September 2026, citing these repeated guidance cuts and a longer-than-expected turnaround for FanDuel. Fitch Ratings revised Flutter's outlook to negative from stable due to concerns over leverage and potential increased UK taxation. Q2 2026 financial results showed a 3% year-over-year revenue increase but an 11% decrease in average monthly players, a net loss of $296 million, and a 45% drop in adjusted EBITDA, with US adjusted EBITDA falling 70%. Additionally, effective August 3, 2026, Flutter's shares were delisted from the London Stock Exchange, making the New York Stock Exchange its sole listing.