DraftKings Stock Lost 12.3% Last Month. Could Thursday's Earnings Help Turn Things Around?
October was a scary month indeed for (NASDAQ: DKNG) as shares of the sportsbook operator tumbled 12.32%. A Halloween close of $30.59 took the stock to its lowest end-of-day price since August 2024.
A look at what ailed DraftKings and other sports-wagering equities last month could help explain the drop. It seems investors saw soaring volume on prediction markets, such as Kalshi, and they didn't like the taste. Market participants interpreted news of sports event derivative contracts as competitive threats to the offerings of DraftKings and friends, punishing the stocks in the process.
Image source: Getty Images.
Source Fool.com
DraftKings Inc. Stock
€28.12
-7.690%
With 82 Buy predictions and 1 Sell predictions DraftKings Inc. is one of the favorites of our community.
With a target price of 46 € there is a hugely positive potential of 63.58% for DraftKings Inc. compared to the current price of 28.12 €.
