Why Shares of DraftKings Were Surging This Week
Shares of DraftKings (NASDAQ: DKNG) were up 10.8% through Thursday's market close, according to data provided by S&P Global Market Intelligence. On Tuesday, the company announced plans to launch gamified non-fungible tokens (NFTs) that will debut on the DraftKings marketplace during the 2022-2023 NFL season.
DraftKings is partnering with the NFL Players Association (NLFPA) and OneTeam Partners, which gives it licensing rights to use the name and likeness of active NFL players. This is a positive development for a sports betting company that is trying to find ways to improve profitability.
Image source: Getty Images.
Source Fool.com
