Please ensure Javascript is enabled for purposes of website accessibility

This Is Why Investors Are Bullish on DraftKings

By Jose Najarro - Apr 23, 2021 at 11:00AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

DraftKings stock price is down nearly 20% from its 52-week high. Here are a few reasons investors are bullish on the stock.

In today's video I look at recent news for DraftKings (DKNG 10.20%) and show a few reasons investors are bullish on this stock. I also take a quick look at recent analysts' price targets for Penn National Gaming (PENN 2.70%)

3 Reasons to Be Bullish on DraftKings:

  1. New partnerships: In the past 10 days, numerous partnerships have been released for DraftKings. Dish Network's (DISH 0.49%) Sling TV launched a new exclusive DraftKings sports betting information channel, DraftKings was named an official sports betting partner for the NFL, and it was named the first official sportsbook of the Professional Fighters League.
  2. Recent acquisitions: DraftKings is pushing into content creation with the purchase of VSIN, a sports betting broadcast and content company. 
  3. Future growth: DraftKings recently raised its guidance for FY 2021. The new guidance represents 40% to 50% year-over-year revenue growth and is a double-digit improvement over its previous guidance.

Click the video below for my full thoughts. 

*Stock Prices used were the mid-day prices of April 22, 2021. The video was published on April 22, 2021. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

DraftKings Inc. Stock Quote
DraftKings Inc.
$12.97 (10.20%) $1.20
DISH Network Corporation Stock Quote
DISH Network Corporation
$18.46 (0.49%) $0.09
Penn National Gaming, Inc. Stock Quote
Penn National Gaming, Inc.
$32.31 (2.70%) $0.85

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/06/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.