3 Reasons DraftKings Stock Can Double Again in 2024
If your money was riding on (NASDAQ: DKNG) in 2023, you fared pretty well. The stock more than tripled last year, soaring 209% as the online sportsbook operator and fantasy sports leader cranked out strong growth in a favorable market for live sports wagering.
A strong performance in 2023 doesn't mean that it's time to cash out. It's unlikely to triple again in 2024, but let's go over some of the reasons why DraftKings has a chance to defy the odds by doubling again in the year ahead.
A big reason for DraftKings' monster stock chart in 2023 is the unexpectedly robust growth that the company has delivered. Revenue has soared 76% through the first nine months of 2023, accelerating from the 73% top-line increase it posted for all of 2022. The market's bracing for a sharp slowdown this year.
Source Fool.com
DraftKings Inc. Stock
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 38.58% for DraftKings Inc. compared to the current price of 33.2 €.
