Betting on a Genius…or at Least the Pick of the dMY Technology SPAC

Sports fans, it’s official. Genius Sports Group (GSG) has completed its business combination with SPAC dMY Technology Group, Inc. II (DMYS/WS). GSG bills itself as “a leading provider of sports data and technology powering the sports, betting and media ecosystem.”

The combined company is called Genius Sports Limited. Warrants will trade under the ticker GENI/WS starting April 21. One warrant, plus $11.50, is exercisable for one share of Genius stock, once they become exercisable.  

The company marked the transaction with the rollout of a new identity. It is also bringing its various products under the Genius Sports umbrella. BetGenius and Genius Sports Media will no longer exist. Instead, sportstech, video, sportsbook, and media & engagement all operate under Genius Sports. 

Genius Sports is entrenched in the sports world. It has partnerships with over 400 organizations, including big guns like the NFL, NBA, NCAA and NASCAR. 

DMYD rocketed higher a few weeks ago when it announced a deal to distribute NFL data, which could be worth over $1 billion.

The company says what differentiates it in the industry is its “scale, access to official data, and innovative technology platform.” This should pay off in the longer term for those wishing to “bet” on future growth.

The real question now, as DMYD sold off today into the symbol change, is how the stock will react in the symbol changeover.

Moving from a SPAC to a regular listed company has been a bumpy process for many recent SPACs.

DMYD has sold off back to a support level around $16, and has major support around $14. It could go overlooked at these levels, in the current “we hate growth stocks” market…until it finds some footing down here.