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Why Shares of DraftKings Plunged 16.2% in June

TheMotleyFool

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Why Shares of DraftKings Plunged 16.2% in June

Shares of DraftKings (NASDAQ: DKNG) fell 16.2% in June, according to data provided by S&P Global Market Intelligence, as shares took a breather from a long run higher. But this remains one of the hottest gambling stocks in 2020 no matter how you look at it.

You can see below that the last month's drop follows DraftKings stock quickly tripling on the market. And given that there's been no earnings reports or changes in legislation around online gambling over the past months, I see this as a natural break in a stock that had a lot of momentum in May.