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Why DraftKings Stock Is Up Today

TheMotleyFool

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Shares of DraftKings (NASDAQ: DKNG) rose on Tuesday following analyst commentary. As of 11:40 a.m. ET, the sports book operator's stock price was up more than 3%.

Several Wall Street investment firms cut their price targets on DraftKings' stock after the fantasy sports and gambling company said it would generate larger losses than many investors expected in 2022. Despite the reduction to estimates, many of these new forecasts are still well above DraftKings' current share price of near $18.

Image source: Getty Images.

Source Fool.com

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