Veteran sports business journalist covering franchise valuations, ownership structures, and the intersection of sports and finance; frequent CNBC contributor.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Whatnot's growth is driven largely by 'breaking' (pack opening/gambling) which constitutes ~90% of volume, creating lottery law risk; the company should build traditional eBay-style commerce as regulatory insurance.