Why DraftKings Stock Fell 4.6% on Thursday

Shares of online gambling company DraftKings (NASDAQ: DKNG) fell as much as 6.7% in trading on Thursday as investors started to question the company's growth potential. Shares closed the day down 4.6%. 

The first item of note is that MGM Resorts (NYSE: MGM) said during its earnings report on Wednesday that it held the No. 1 market-share position for sports wagering and online gambling in the U.S. in August, a position formerly held by DraftKings. It also said that MGM's market share in online gambling was more than double that of the second-place competitor. 

Image source: Getty Images.

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Source Fool.com