Opinions
Brendan Caldwell
DraftKings
DKNG-Q
SELL
Dec 30, 2024
$37.100
Stock price when the opinion was issued
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Historically, stock does well in football season from now until the Super Bowl. Not a long-term, core holding. Get in, make some $$, get out. Technical setup looks really nice. Seasonally strong period for sports betting. Leader in the industry. No dividend.
(Analysts’ price target is $49.30)
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BUY
Great fundamentals, though a quarter of the US still bans sports betting. DKNG has done a good job increasing parlay use. Delta just announced a partnership--we'll see how that plays out. iGaming saw a 14% bounce last quarter in customer count YOY; it's small, but has a lot of room to expand. Overall, DKNG has a lot going for it, and it does well during the NFL playoffs. Also, shares are down a lot, so shares are cheap.
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He feels sports gambling is awful. We should see losses in these gambling companies because of the lack of duty of care. There will be fewer gambling companies ahead since it is a saturated industry.