1 Growth Stock Down 66% to Buy Right Now
If you don't have billions of dollars to buy a professional sports franchise, the next best thing to do to gain exposure is to invest in industries that are derivatives of the leagues, right? Enter (NASDAQ: DKNG). The online sports betting platform is still posting strong growth.
Even though the stock is up an incredible 113% in 2023, DraftKings is still off about 66% from its all-time high price of $71.98 set in March 2021. Shares currently trade at a price-to-sales multiple of 4.2, close to the cheapest they've sold for since the company went public. This presents a potential opportunity.
Here's why DraftKings is one growth stock that's down big to buy right now.
Source Fool.com
DraftKings Inc. Stock
€33.76
0.940%
With 69 Buy predictions and 3 Sell predictions DraftKings Inc. is one of the favorites of our community.
With a target price of 46 € there is a positive potential of 36.28% for DraftKings Inc. compared to the current price of 33.76 €.
