Ark Invest Purchased a Stake in DraftKings: Here's 1 Gambling Stock to Buy Instead
This month, Cathie Wood's Ark Invest made news by opening a position in the online gambling platform DraftKings (NASDAQ: PENN). Nationally, online gambling is growing at a rate of 13.2% annually, and with more states (including New York) taking a look at legalization, there's good reason to expect the segment's growth to continue.
Despite Ark Invest's optimism, I do not believe DraftKings is the best way to invest in this promising space. Penn National Gaming (NASDAQ: PENN) is a better play.
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Source Fool.com
