Why Shares of DraftKings Popped 16.2% on Friday
Shares of online gambling company DraftKings (NASDAQ: DKNG) jumped as much as 16.2% in trading Friday after the company announced its first quarterly results as a public company.
First-quarter revenue was up 30% to $89 million, and was up 60% pre-COVID-19 at the "old DraftKings." As strong as that growth was, the net loss more than doubled to $68.7 million, or $0.18 per share, as the company invested in growing the business.
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Source Fool.com
