Is It Too Late to Buy DraftKings Stock?
Even with the big pullback from April's peak, (NASDAQ: DKNG) stock is still up more than 200% just since the beginning of last year. That's huge. It's so huge, in fact, that it could be intimidating to interested buyers. Bolstering their worries is the threat of higher tax rates on gambling revenue in at least one key market. Maybe DraftKings' highest-growth days are all in the past.
More likely than not, however, they aren't. If anything, this ticker's recent weakness is actually more of a buying opportunity than a warning.
DraftKings manages on online sportsbook -- at least, in states where it's legal to do so. While its roots are in the fantasy sports business, 2018's reversal of the federal ban on sports wagering has led to the legalization of sports betting in nearly 40 states. DraftKings has also tiptoed into conventional gambling games like online poker (or iGaming) as well as lottery ticket sales.
Source Fool.com
DraftKings Inc. Stock
The stock is one of the favorites of our community with 69 Buy predictions and 3 Sell predictions.
As a result the target price of 46 € shows a positive potential of 37.56% compared to the current price of 33.44 € for DraftKings Inc..
