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Ignore DraftKings: Here Are 2 Better Stocks

TheMotleyFool

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Ignore DraftKings: Here Are 2 Better Stocks

In April, sports-betting company DraftKings (NASDAQ: DKNG) went public via a reverse merger. The reverse merger process allows companies to tap the public markets like traditional initial public offerings (IPO) but is often faster and cheaper.

With DraftKings' IPO, this is the only pure-play U.S. stock for sports betting. And Wall Street clearly thinks highly of the opportunity. Shares have more than doubled in 2020, and some analysts think it could go much higher -- even to $75 per share.