Why DraftKings' Falling Stock Is a Big Problem
Shares of DraftKings (NASDAQ: DKNG) have fallen 35% from their all-time high earlier this year, and are down over 25% in the last few weeks alone. The stock is down in part because growth stocks are falling as interest rates rise, but investors also haven't been pleased with DraftKings' very aggressive acquisition strategy.
An offer to Entain (LSE: ENT) for $22 billion, more than DraftKings' valuation today, has caused the latest consternation for investors. Is this growth stock a buy, or is it one to avoid in the competitive online gambling market? Let's take a look.
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Source Fool.com
