Why DraftKings Plunged Today
Shares of sports betting and iGaming giant (NASDAQ: DKNG) fell 10.2% on Tuesday as of 12:32 p.m. ET.
DraftKings didn't have any company-specific news today, but was rather affected by the success of an up-and-coming privately owned competitor. Oh, and worsening consumer sentiment data didn't help, either.
Investors might not have heard of the betting platform Kalshi, as the company, which was founded in 2018 and backed by a number of high-profile venture capital firms, is still private. Kalshi initially unveiled its trading platform in mid-2021, and was primarily geared toward giving investors the ability to bet on real-world events, such as economic data or political happenings.
Source Fool.com
DraftKings Inc. Stock
€29.30
-2.690%
With 80 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 57.0% for DraftKings Inc. compared to the current price of 29.3 €.
