Benzinga (Wed, 8-May 11:54 PM ET)
Rush Street Interactive (NYSE:RSI) Stock Rides Rumors of Acquisition
TipRanks (Wed, 8-May 5:28 AM ET)
Analysts’ Top Consumer Cyclical Picks: DraftKings (DKNG), Booking Holdings (BKNG)
TipRanks (Wed, 8-May 4:11 AM ET)
Benzinga (Tue, 7-May 11:27 PM ET)
What's Going On With DraftKings Stock Monday?
Benzinga (Mon, 6-May 11:00 AM ET)
DraftKings Earns ‘Buy’ Rating with Strong Q1 Performance and Raised 2024 Forecasts
TipRanks (Mon, 6-May 10:45 AM ET)
Analysts Are Bullish on Top Consumer Cyclical Stocks: DraftKings (DKNG), LKQ (LKQ)
TipRanks (Mon, 6-May 8:40 AM ET)
TipRanks (Mon, 6-May 7:51 AM ET)
Buy Rating on DraftKings: Strong Fundamentals and Strategic Growth Outlook
TipRanks (Mon, 6-May 6:25 AM ET)
TipRanks (Sun, 5-May 9:50 PM ET)
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in 27 states and iGaming in seven states, with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
Draftkings - Class A trades on the NASDAQ stock market under the symbol DKNG.
As of May 10, 2024, DKNG stock price declined to $43.71 with 1,377,293 million shares trading.
DKNG has a beta of 2.47, meaning it tends to be more sensitive to market movements. DKNG has a correlation of 0.39 to the broad based SPY ETF.
DKNG has a market cap of $20.82 billion. This is considered a Large Cap stock.
Last quarter Draftkings - Class A reported $1 billion in Revenue and $.03 earnings per share. This beat revenue expectation by $55 million and exceeded earnings estimates by $.31.
In the last 3 years, DKNG stock traded as high as $64.58 and as low as $9.77.
The top ETF exchange traded funds that DKNG belongs to (by Net Assets): VTI, VB, VXF, VBK, ARKK.
DKNG has outperformed the market in the last year with a price return of +79.3% while the SPY ETF gained +28.4%. However, in the short term, DKNG had mixed performance relative to the market. It has underperformed in the last 3 months, returning +0.8% vs +4.3% return in SPY. But in the last 2 weeks, DKNG shares have fared better than the market returning +6.4% compared to SPY +3.5%.
DKNG support price is $42.73 and resistance is $45.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DKNG stock will trade within this expected range on the day.