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  "documentTitle": "Genius Sports Limited (GENI)",
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  "authorName": "Ben Axler",
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      "text": "Our price target is based on the nature of a business unlikely to meet the market's overly optimistic expectations of captured market share, GGR revenue share and inflated target EBITDA margins.",
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      "text": "implied share price: $3.26-$6.39",
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      "text": "Our price target is based on the nature of a business unlikely to meet the market's overly optimistic expectations of captured market share, GGR revenue share and inflated target EBITDA margins. Applying a high revenue multiple in-line with many public gaming companies, including being often compared to DraftKings, makes no sense as these businesses have different growth opportunities and economics.",
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      "text": "(1) Discounted over 8.5 years (2) Includes warrants Note: High and low case from Spruce Point analysis. Market data as of 8/4/2021 Source: Company financials, Spruce Point research",
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      "text": "60% - 80% Downside Risk",
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