The Big Competitive Advantage DraftKings Shares With Facebook
DraftKings (NASDAQ: DKNG) has been facing challenging times as the coronavirus pandemic led sports leagues to pause their seasons. Since the company derives most of its revenue from offering contests that depend on the results of sporting events, the lack of sports is hurting the company significantly.
The company has enough cash to survive in the near term, and sports leagues will eventually return to normal operations. When that time comes, the company has the potential to reach robust growth. That's because it shares a competitive advantage that Facebook (NASDAQ: FB) also has. Let's take a closer look.
One out of three people on the planet use Facebook. Image source: Getty images.
Source Fool.com
