Week to date, shares of (NASDAQ: DKNG) were down 12.6% through Thursday's market close, according to data provided by S&P Global Market Intelligence.

The stock has more than doubled this year,  as the company achieves higher profitability well ahead of expectations. But the stock tumbled this week after Walt Disney's ESPN partnered with sports betting rival Penn Entertainment to form a new platform that could compete aggressively with DraftKings.  

The deal with Disney will give Penn exclusive access to ESPN content with a deeply integrated new platform called ESPN Bet.

Continue reading

Source Fool.com