Thoughts about long on DKNG (draftkings)?
$DraftKings(DKNG.US$ I'm pretty big into sports betting so I know all about draftkings. It's currently been going through a pretty big dip right now at about $28 a share. Seems like it's spending has gone up but at the same time I've seen them advertising in a lot of places.
Sports betting is getting more mainstream and is more states vote to legalize it though have more markets. And not only that, something I never see mention when talking about this stock is how they do DFS daily fantasy sports which is legal in all 50 states. So they have a huge market of people that want to bet on sports but can't in their state without using a overseas shady book, that will just play the fantasy sports instead.
I think it's a decent buy right now but I also have the feeling in my dip a little bit lower with people thinking either sports betting isn't going to be growing much in the future or they'll have other competition or whatever else.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Bailee : From my understanding, Draft Kings prioritizes research and development more than their current and potential competitors (greater percentage of fund allocation). Meaning, they seem to be ensuring themselves a big head start on tech/patents and a potential “moat” when it comes to daily fantasy sports or mobile sports betting in general.
71066019 : I’ll go long with you
Celestinel : $DraftKings (DKNG.US)$ is it true that DraftKings has over 8 billion in cash ?