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Here s Why Alger Remains Optimistic in DraftKings (DKNG) Despite its Poor Q2 Performance
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Alger Mid Cap Fund is Bullish in DraftKings Inc.(DKNG), Here’s Why
Alger, an investment management firm, published its “Alger Mid Cap Focus Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. During the quarter, the largest portfolio sector weightings for the fund were Consumer Discretionary and Information Technology. The fund’s largest sector overweight was Consumer Discretionary. Class Z shares of the Alger Mid Cap Focus Fund outperformed the Russell Midcap Growth Index during the first quarter of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Is Draftkings (DKNG) a Smart Long-term Buy?
Alger Mid Cap Focus Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. Class Z shares of the Alger Mid Cap Focus Fund outperformed the Russell Midcap Growth Index during the third quarter of 2020. You should check out Alger Mid Cap Focus Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q3 2020 Investor Letter, Alger Mid Cap Focus Fund highlighted a few stocks and Draftkings Inc. (NASDAQ:DKNG) is one of them. Draftkings Inc. (NASDAQ:DKNG) is a sports betting company. Year-to-date, Draftkings Inc. (NASDAQ:DKNG) stock gained 357.6% and on December 28th it had a closing price of $48.96. Here is what Alger Mid Cap Focus Fund said: