Is DraftKings a Must-Own Growth Stock?
Pure-play growth stocks have run into a brick wall in the second half of 2023. Despite a surge in growth stock prices in the opening months of the year resulting from the excitement over artificial intelligence, investors have grown increasingly cautious about this particular asset class, and for good reason. The global economy is showing clear signs of a slowdown, inflation has been sticky all year long, and interest rates are expected to remain elevated for a prolonged period.
Online gaming and sports betting specialist (NASDAQ: DKNG) has been an outlier in this regard. Thanks to a suite of improving financial metrics and a breathtaking long-term outlook, investors have bid up this online betting stock to the tune of 145.5% so far this year, making it one of the best-performing equities listed on the stock exchange in 2023.
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Source Fool.com
DraftKings Inc. Stock
Currently there is a rather positive sentiment for DraftKings Inc. with 84 Buy predictions and 5 Sell predictions.
With a target price of 45 € there is a positive potential of 29.42% for DraftKings Inc. compared to the current price of 34.77 €.
