Here's Why DraftKings Slumped 6% on Wednesday
Shares of sports-betting name DraftKings (NASDAQ: DKNG) ended Wednesday's trading session lower by 6%, seemingly in response to the sudden swell of class action lawsuits being prepared by shareholders. A more thorough look, however, suggests this weakness has been brewing -- and gaining traction -- for some time now.
No particular headline upended DraftKings shares today, although it's difficult to not notice the sheer number of class action suits that have been advertised in just the past couple of days. Attorneys are calling on shareholders that have suffered losses to participate in the legal effort claiming the company knowingly and willfully facilitated illegal gambling options in the past.
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Source Fool.com
