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DraftKings Stock Rallies On Earnings Surprise, Raised Sales Outlook

DraftKings Stock Rallies On Earnings Surprise, Raised Sales Outlook
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DKNG Stock: DraftKings Is Still Worth Betting On Despite Recent Pain


April 29, 2021
DraftKings (NASDAQ:
DKNG) rewarded investors in 2020 with a spectacular 354% gain. Not bad for a single year. The odds of repeating that run in 2021 were not good, but DKNG stock started off hot. When shares closed at $71.98 on March 19, they were up 60% from the start of the year. However, it has been mostly downhill since then. Now trading just over $59, DKNG is down nearly 18% over the past five weeks. Given the strong performance history of this stock, is buying on the dip a good idea?
Source: Tada Images/Shutterstock.com
DraftKings stock earns a ‘B’ rating in
Portfolio Grader. There are are some concerns around the company’s growth story. It’s not yet profitable. The industry is also rapidly becoming more competitive even as regulation continues to hold it back. ....

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