Why DraftKings Stock Soared 66% Higher in September

Shares of DraftKings (NASDAQ: DKNG) soared a whopping 66.4% higher in September, according to data provided by S&P Global Market Intelligence. It was almost non-stop positive press for the company, which excited investors and kept them bidding the stock higher. DraftKings stock is up around 500% now year to date, hitting brand new all-time highs in September -- record highs it's already surpassed in October.

DraftKings started the month off by announcing NBA legend Michael Jordan took an equity interest in the company and will serve as a special advisor to the board of directors. The company has expanded the board by creating two new seats and filling them with Jocelyn Moore and Valerie Mosley. Not only do these new directors bring their management expertise, they also make the board more diverse.

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Source Fool.com