Why DraftKings' Shares Fell 5.6% on Friday
Shares of online betting company DraftKings (NASDAQ: DKNG) fell as much as 5.6% in trading Friday after the company and insiders priced a share sale. At 1:40 p.m. EDT, shares were still down 3.8% for the day.
The most notable news was that a public offering of 32 million shares of stock was priced at $52 per share. This includes a sale of 16 million shares by DraftKings and a 16-million share sale by company insiders.
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Source Fool.com
