Investors need not fear Chanos assertions. Even though sports betting is legal for DraftKings in limited places, it should lift its results. 5 Hypergrowth Stocks With 10X Potential in 2023, The Time to Buy Peloton Stock Is Now, According to Cathie Wood, Luke Lango and the InvestorPlace Research Staff, Facebooks CTO Departure Is Huge News for This Hypergrowth Crypto, This Is the Worst Thing You Can Do in the Stock Market, How to Profit From the Intelligence Age With AI Stocks, Capitalize on the Emerging Age of AI for Hefty Profits, Adopt the AI Revolution Before It Crowns the Next-Generation of Billionaires, Opendoor: The Amazon of Houses Keeps Getting Better. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright 2023 InvestorPlace Media, LLC. Poteau, OK (74953) Today. On the date of publication, Vandita Jadejadid not have (either directly or indirectly) any positions in the securities mentioned in this article. DraftKings has reported strong revenues in Q3 2021, but continues to make significant losses. The stock had fallen 63% over the past year through Thursday's close. Indeed, this is certainly a big boon for business, should this trend continue. The company defines MUPs as users who have paid engagement across one or more product offerings. A company with a weak moat has a broken business model. News on the political front looks positive. Its average monthly unique payers (MUP) for its B2C segment jumped 44% versus the prior year to 1.5 million, reflecting strong unique payer retention and acquisition across DFS, OSB and iGaming. For the three months ended September 2021, revenue from MUPs was reported at $1.34m. On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTechs proven technology platform, we will accelerate our innovation, growth and scale. DKNG stock has slipped in the past month without a material change to its bullish narrative. Famed short-seller Jim Chanos disclosed his bet against the companys stock, and Chief Executive Officer Jason Robins questioned his concerns on valuations. Note that analysts predictions are often wrong. Copyright 2023 InvestorPlace Media, LLC. So far in 2021, DKNG has gained another 21% though that includes the recent sell-off from last month's highs. States need revenue. Sports betting has. Although the recent deal withEntain Plcdid not work out, DraftKings made several partnerships and acquisitions that will work in its favor. Further, it has announced a multi-year deal with Genius Sports (NYSE:GENI), a National Football League (NFL) data provider. Milan Vaishnav, CMT, MSTA, a Consulting Technical Analyst at Gemstone Equity Research & Advisory, shared a technical analysis of the DKNG share market: Based on the data compiled by Market Beat, as of 26 January 2022, of 26 analysts, 17 rated DKNG stock a buy, eight suggested a hold and one recommended a sell.
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