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.

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Source Fool.com