As the New York Stock Exchange opened on Tuesday morning for post-holiday training, the verdict on the inaugural Enhanced Games from the perspective of the market came in loud and clear.
In the opening minutes after the bell, the stock has already fallen by over 40%, wiping out almost $800 million in market value.
The Enhanced Games are, at their core, a marketing tool for ‘the Protocol,’ a combination of substances, of various levels of legality, pitched as “the Future.”
But in spite of repeated lines that the organization would “Change the Future,” and “optimize health, longevity and vitality,” the spectacle-oriented Games didn’t really prove the product.
Only one World Record was cleared, at the end of the six-hour competition program, and three events were won by non-Enhanced athletes over those who were using substances banned by the mainstream governing bodies.
The stock price is now hovering around $3.19 as of publishing, the lowest it has been and just a fraction of it’s 52-week high of $14.
As a publicly traded company, the Enhanced Games will have to eventually make their earnings and profits public. Seeking Alpha, an investment research platform, reports a consensus revenue estimate of around $50-$57 million for the fiscal period ending December 2026, with a net loss on that revenue. The consensus then reports a tripling of that revenue in 2027.
The ENHA fall is in juxtaposition to the market as a whole, which is up on news that the U.S. and Iran are close to a deal to end fighting in the Middle East, a drop in oil prices, and a climb in chip makers that drive so much of the markets.
Any sharps in here watching Polymarket the other day? At some point the market was pricing an absolutely bonkers 40% chance for Magnussen to win the 50m FR. Guaranteed 66% return betting on him to lose.
When looking at the summary of their trading price it was at $11.19 on May 6th and now around 9:45am on 5/27 ENHA trade at $2.79
James Magnussen swam a 100 freestyle so badly he cost this company like 250m in market cap. What an absolutely useless goon
Who?
Good news. Still time to short ENHA. $3/share more to get to ZERO! They already have a going concern opinion which clearly states that they cannot sustain their business model without raising capital. And their proof of concept was a bust. If the goal was to make LIV look like SpaceX, this guys nailed it!
Buy the dip.
i can’t imagine why?!
I think for this to be taken “seriously” (not that I want it to be), they’d need to establish what these athletes’ baseline times are before any protocol, then compare to after protocol. And don’t wear banned suits – need to be able to (somewhat) isolate the impact of the protocol itself.
Also, I find it hilarious that they were claiming that “hundreds of athletes” reached out to them about taking part in this when it was announced. Seems to me they had to fill lanes with whoever they could get, because 1:02 100br and 49 100fr are not worthy times for an event like this. They’d be taken a lot more seriously if they had 4 actual elite athletes… Read more »
If you look at track, not a single person PBed. They were on average 0.3 to 0.4 slower than their PB, in a 10 second race… In weightlifiting there we a few PB but even then they would have logically moved up weight classes. Swimming is the sport that had the most PBs, but then is it more the drugs or the supersuit…
Agreed on the first paragraph. The best way to do this would be to track each athlete’s relative performance, but unfortunately I think ENHA realized the only way to catch eyes would be “break a WR” – which is a lose-lose for them if you think about it.
I agree with this. World records are exciting, but the idea that most of these ath.etes had ANY shot at a WR was a joke.
The track events were even worse than the swimming events, in terms of the class of the field. In the men’s 100 meter dash, there was only one athlete (or maybe 2) that could be legitimately called world class, Fred Kerley. The others wouldn’t even win the Texas state high school meet. So, it wasn’t a huge shock that he easily beat everyone, without any drugs, while going significantly slower than his PB.
If they are going to hype the WRs, then they really needed more world class athletes, and they needed more time… Read more »
If they have this meet again next year. I bet a lot of really fast/current swimmers will enter and compete clean, just to pick up the big money for placing high in events
Honestly this would genuinely make me happy – let’s have a clean athlete win every event and see what the narrative is after
We saw something with hunter armstrong beat shane and the bulgarian guy
They will not risk having clean athletes. Note that Fred Kerley is not a clean athlete even if he claims to be. There is a reason why he was banned and is very far from his best times