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Why DraftKings Shares Popped 10.2% on Tuesday

TheMotleyFool

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Why DraftKings Shares Popped 10.2% on Tuesday

Shares of sports betting company DraftKings (NASDAQ: DKNG) jumped as much as 10.2% in trading on Tuesday after some positive news came out about the stock. Shares were up 6.9% at 12:30 p.m. EST.

The biggest news driving the stock was Goldman Sachs upgrading shares to a buy rating and putting a $65 price target on shares. Analyst Stephen Grambling thinks DraftKings' market-leading position will create a network effect and give the company lots of options for growth in the future.

Image source: Getty Images.

Source Fool.com

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