Why DraftKings Stock Is Tumbling Today
Shares of DraftKings (NASDAQ: DKNG) slid as much as 11.4% in morning trading Monday as the Dow Jones Industrial Average dove over 800 points, or about 3%, at the open.
Shares of the sports-betting shop have quintupled since the company's initial public offering late last year, and recently hit an all-time high of $55.70 as the return of sports from the pandemic closures had people itching to wager on team sports. New Jersey reported the biggest August haul of any state ever for sports betting.
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Source Fool.com
