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Why DraftKings Stock Plunged Today

TheMotleyFool

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Shares of DraftKings (NASDAQ: DKNG) plummeted 28% on Friday after the daily fantasy sports and gaming leader said its pace of expansion could decelerate markedly in the year ahead.

DraftKings' revenue soared 136% year over year to $502 million. The rollout of the company's Sportsbook and iGaming products in newly legalized markets helped to fuel the gains.

DraftKings' monthly unique paying users increased to 1.6 million, up 22% from the prior-year period. Yet that was below Wall Street's estimates, which called for two million payers. It was also a marked deceleration from the 30% paying user growth DraftKings experienced in the second quarter.

Source Fool.com

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