Last price: $48.68
52w range:
$17.42
to
$49.27
52w change:
179.00%
to
-1.00%
Forward PE: 64.91
Trailing EPS: -1.73
50d average: $41.85
(16%)
200d average: $33.71
(44%)
Open: $48.22
Previous close: $47.32
Change: $1.36
(2.87%)
Day high: $49.27
Day low: $48.12
Volume: 9.70 million
Avg. vol 3m: 11.86 million
NasdaqGS
NASDAQ:DKNG
Cap: 23.16 billion
Shares outstanding: 475.7 million
Price hint: 2
Price to book: 27.38
Yahoo Quote
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with daily fantasy sports, sports betting, and iGaming opportunities. The company is headquartered in Boston, United States, and was founded in 2012.
DraftKings went public in 2020 through a merger with a special purpose acquisition company (SPAC) called Diamond Eagle Acquisition Corp. It trades on the NASDAQ under the ticker DKNG.
DraftKings' business is divided into two main sectors: daily fantasy sports (DFS) where users compete against each other by building teams of professional athletes, and sportsbook where users can wager on various sports events.
Performance:
The company has seen significant growth, attributable in part to the wider legalization of online sports betting across the United States. As a result, the company is expanding into new states as laws are changing.
Risks:
However, the company is not yet profitable and its success largely depends on continued changes in state laws concerning online gambling. There are also risks associated with potential regulatory changes and prevailing societal attitudes toward gambling.
Stock Performance:
DKNG stock performed quite well after going public; however, it has shown some volatility, in line with the general trend of the market and the state of the sports industry, specifically considering impacts related to COVID-19 pandemic.
DraftKings has also made some strategic partnerships to broaden its reach, including agreements with ESPN, and several professional sports leagues and teams.
In Summary, investing in DraftKings could potentially yield high returns due to the growth prospects in the online gambling and sports betting industry. It's a leader in a burgeoning sector, but it is important to be aware of the significant risks involved, particularly relating to legal and regulatory uncertainty. Therefore, you need to conduct a thorough assessment of your risk tolerance and investment goals before investing in the company. Long term prospects can be promising assuming positive regulatory changes continue to prevail across states.
This information represents a high-level overview and it is recommended to do your own research or consult with a financial advisor before making any investment decisions.