September Sell-Off: Is DraftKings a Buy While It's Down?
DraftKings (NASDAQ: DKNG) stock is going through a patch of misfortune in September. The stock is down 10% in the month as of this writing. That's in stark contrast to the company's performance for the year. Revenue in the first two quarters of fiscal 2021 is ahead of expectations, prompting management to raise the bar for the rest of the year. So the stock is falling while operating performance remains excellent, which could present an opportunity for long-term investors.
DraftKings stock is down 10% in September. Image source: Getty Images.
DraftKings is an online gaming company that allows customers to wager on sporting events and classic casino games like blackjack. The company is an alternative for people who want to participate in wagering activities but don't want to drive to a local casino. The biggest obstacle facing DraftKings is getting the approvals to operate in local jurisdictions.
Source Fool.com
