What happened Shares of mobile games platform Skillz (NYSE: SKLZ), the successful 2020 SPAC IPO that's lost most of its gains over the last couple of months, are taking investors for another wild ride this week. In one decline before today, Skillz stock dropped 11.1% below its Friday close on no apparent bad news. Today, the stock is making back all of those losses and more, gaining 13.3% through 10:15 a.m. EDT -- also on no news of note. Image source: Getty Images. So what Skillz hasn't ever earned a profit, and its losses and cash burn surged last year (partly as a consequence of expenses incurred during the IPO). The company's next earnings report probably won't be due out till June, but even that won't be too impressive. Analysts polled by S&P Global Market Intelligence are forecasting a $0.13 net loss per share, followed by further losses throughout the year. In fact, Skillz isn't expected to turn GAAP profitable before 2024. Now what The good news is that positive free cash flow could emerge earlier than that, in 2023. And even the GAAP losses should slowly shrink year by year after peaking at $0.47 per share. Whether investors choose to focus on the diminishing losses as time goes by, or the fact that there are still losses, will probably determine how Skillz stock fares in the years ahead. 10 stocks we like better than Skillz Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Skillz Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Skillz Inc. The Motley Fool has a disclosure policy.Source