{"id":542,"date":"2022-02-12T18:09:43","date_gmt":"2022-02-12T15:09:43","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-stock-wild-ahead-of-super-bowl\/"},"modified":"2022-02-12T18:09:43","modified_gmt":"2022-02-12T15:09:43","slug":"draftkings-stock-wild-ahead-of-super-bowl","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/es\/draftkings-stock-wild-ahead-of-super-bowl\/","title":{"rendered":"DraftKings Stock Wild Ahead of Super Bowl"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Tabla de contenidos<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/es\/draftkings-stock-wild-ahead-of-super-bowl\/#Super_Bowl_Enthusiasm_Palpable_for_DraftKings\" title=\"Super Bowl Enthusiasm Palpable for DraftKings\">Super Bowl Enthusiasm Palpable for DraftKings<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/es\/draftkings-stock-wild-ahead-of-super-bowl\/#Earnings_Preview\" title=\"Earnings Preview\">Earnings Preview<\/a><\/li><\/ul><\/nav><\/div>\n<p>DraftKings (NASDAQ:DKNG) stock is experiencing a turbulent day ahead of Super Bowl LVI and ahead of the company\u2019s fourth-quarter earnings report on Feb. 18.<\/p>\n<figure aria-describedby=\"caption-attachment-201312\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-201312 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-142x85.jpg\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-142x85.jpg\" alt=\"DraftKings\" width=\"1200\" height=\"720\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-142x85.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-1024x614.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-768x461.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-1536x922.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG.jpg 2000w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-201312\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-142x85.jpg\" alt=\"DraftKings\" width=\"1200\" height=\"720\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-142x85.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-1024x614.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-768x461.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG-1536x922.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/DKNG.jpg 2000w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">DraftKings\u2019 Las Vegas office, seen above. The stock is proving wild ahead of Sunday\u2019s Super Bowl. (Image: <em>Nevada Independent<\/em>)<\/figcaption><\/figure>\n<p>Earlier today, <a href=\"https:\/\/www.casino.org\/news\/analysts-continue-reducing-draftkings-price-target-stock-slides\/\" rel=\"nofollow noopener\" target=\"_blank\">the downtrodden stock<\/a> traded higher by as much as 7.6 percent, providing hope that it might be ready to break out of what\u2019s been a long spiral lower. That rally was sold, however, as DraftKings is higher by just 1.12 percent in late trading. Volume exceeded the daily average.<\/p>\n<div class=\"callout\">\n<p>DraftKings was helped today by a note from <a href=\"https:\/\/www.casino.org\/news\/draftkings-rallies-with-help-of-morgan-stanley-upgrade\/\" rel=\"nofollow noopener\" target=\"_blank\">Morgan Stanley analyst Thomas Allen<\/a> who points out that 23 percent margins are possible over the long-term for the sportsbook operator as it scales into new markets. While 23 percent is below what dominant bookmakers, such as Entain, Flutter and Kindred, post in mature markets like Australia and Europe, it\u2019d still represent an impressive feat for DraftKings in the US.<\/p>\n<\/div>\n<p>Allen reiterates an \u201coutperform\u201d rating and a $31 price target on the shares. That implies upside of 36 percent from the Feb. 10 close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Super_Bowl_Enthusiasm_Palpable_for_DraftKings\"><\/span>Super Bowl Enthusiasm Palpable for DraftKings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Super Bowl is the most wagered-on sporting event in the US. But this year\u2019s iteration of the big game is particularly important for sportsbook operators, including DraftKings.<\/p>\n<p><strong>An <a href=\"https:\/\/www.casino.org\/news\/super-bowl-lvi-betting-expected-to-top-7b\/\" rel=\"nofollow noopener\" target=\"_blank\">estimated $7.6 billion<\/a> is expected to be wagered on the game, which pits the Cincinnati Bengals against the Los Angeles Rams.<\/strong><\/p>\n<p>This is also the first Super Bowl since the 2018 <a href=\"https:\/\/www.casino.org\/news\/ohio-officials-weigh-in-on-1b-net-revenue-record-at-racinos\" rel=\"nofollow noopener\" target=\"_blank\">Supreme Court ruling<\/a> on the Professional and Amateur Sports Protection Act (PASPA) that more than half the US adult population has access to regulated sports wagering, as the activity is now live and legal in 30 states and Washington, DC.<\/p>\n<p>DraftKings\u2019 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<blockquote class=\"main-blockquote\">\n<p><strong>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. <strong>\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>\n<\/blockquote>\n<p>The analyst views DraftKings and Flutter, the parent company of FanDuel, as early disruptors in the gaming industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Earnings_Preview\"><\/span>Earnings Preview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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<p>Still, options traders are expecting big moves in DraftKings following the report, which is possible depending upon what the company\u2019s 2022 guidance looks like.<\/p>\n<p><strong>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<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/draftkings-stock-experiences-wild-day-ahead-of-super-bowl-earnings\/\" target=\"_blank\">DraftKings Stock Wild Ahead of Super Bowl<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>DraftKings (NASDAQ:DKNG) stock is experiencing a turbulent day ahead of Super Bowl LVI and ahead of the company\u2019s fourth-quarter earnings report on Feb. 18. DraftKings\u2019 Las Vegas office, seen above. The stock is proving wild ahead of Sunday\u2019s Super Bowl. (Image: Nevada Independent) Earlier today, the downtrodden stock traded higher by as much as 7.6 <a href=\"https:\/\/xxbet-company.com\/es\/draftkings-stock-wild-ahead-of-super-bowl\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/542"}],"collection":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/comments?post=542"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media\/543"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media?parent=542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/categories?post=542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/tags?post=542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}