Codere Online Q2 Earnings: Attractive Valuation Despite Rising Competition Risks (Rating Upgrade)

t H andresr Investment thesis In my previous write-up on Codere Online Luxembourg (NASDAQ:CDRO), I recommended a Hold on the shares, despite finding its strong revenue growth and improving profitability very attractive. The main reason for this was the growing competition in its main market, which is Mexico. I did point out, however, that the company's recognized brand name and omnichannel presence gave it an edge in acquiring customers versus its competitors. Q2 results once again showed strong excention b ...