Down 46%, is DraftKings Stock Finally a Buy?
Down 46% so far in 2022, DraftKings (NASDAQ: DKNG) stock has suffered an even worse slump than the S&P 500, which has fallen 17%. And even after its slide, the stock isn't particularly cheap. While sales are growing at a massive clip, management expects a slowdown. Meanwhile, profitability looks to be nowhere in sight. Is there any hope for DraftKings? Let's find out.
DraftKings operates a sports betting and online gambling platform. Its stock made a big splash when it hit public markets through a SPAC merger in early 2020. DraftKings arrived just in time to ride the stay-at-home wave during the COVID-19 pandemic, and saw its shares soar to an all-time high of $72 by March 2021 (a gain of around 260%).
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Source Fool.com
