DraftKings’ sportsbook is live in 17 states, including New York. That state recently approved online and mobile sports betting, and is rapidly ascending to the top spot among all states that allow regulated sports wagering. While DraftKings stock is struggling in recent months, some analysts remain constructive on the long-term outlook.<\/p>\n
DraftKings is well-funded, and boasts a cost of capital advantage (though contracting more recently), both of which are leveraged to compete via aggressive marketing spend,\u201d<\/strong> said Stifel analyst Steven Wieczynski in a recent note to clients. \u201cEarly top-line market share results suggest the strategy is working, though the odds of success for a planned rationalization of marketing spend and inflection to profitability remains a key debate today.\u201d<\/strong><\/p><\/blockquote>\nThe analyst views DraftKings and Flutter, the parent company of FanDuel, as early disruptors in the gaming industry.<\/p>\n
Earnings Preview<\/h2>\n
DraftKings reports fourth-quarter results on Feb. 18. Analysts are expecting a loss of 65 cents a share on revenue of $445.48 million. Over the past 90 days, there were 17 downward revisions by analysts to that outlook.<\/p>\n
Still, options traders are expecting big moves in DraftKings following the report, which is possible depending upon what the company’s 2022 guidance looks like.<\/p>\n
Options data imply a post-earnings move of at least 14 percent for DraftKings stock. In four of the past seven quarters, the shares shifted more than that immediately following quarterly results, according to Bloomberg data.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"DraftKings (NASDAQ:DKNG) stock is experiencing a turbulent day ahead of Super Bowl LVI and ahead of the company’s fourth-quarter earnings report on Feb. 18. Earlier today, the downtrodden stock traded higher by as much as 7.6 percent, providing hope that it might be ready to break out of what’s been a long spiral lower. That […]<\/p>\n","protected":false},"author":46,"featured_media":201312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
DraftKings Stock Experiences Wild Day Ahead Of Super Bowl, Earnings<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n