Why DraftKings Stock Is Tumbling Hard Today

Share of DraftKings (NASDAQ: DKNG) were tumbling almost 10% heading into noontime trading Monday after the daily fantasy-sports and sports-betting platform was downgraded from buy to hold on prospects for slowing growth. 

Argus Research analyst John Staszak says the bull thesis for DraftKings is predicated on more states legalizing sports gambling, but he sees fewer of them doing so this year. 

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Source Fool.com