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Why DraftKings Is Down 3.5% Today

TheMotleyFool

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Shares of DraftKings (NASDAQ: DKNG) were down 3.5% in afternoon trading Wednesday despite the Florida legislature approving a sports betting and expanded casino gaming bill.

The sportsbook's stock, which is down 42% from highs hit in March, also got another vote of confidence from Wall Street money manager Cathie Wood, whose Ark Investment Management bought an additional 708,000 shares of its stock yesterday.

Image source: Getty Images.

Source Fool.com

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