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This Is Why Investors Are Bullish on DraftKings

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

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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. 



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Stocks Mentioned

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

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

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