Draftkings Inc ($DKNG) Stock Forecast: Down 5.3% Today

What is Draftkings Inc?

DraftKings (DKNG) is a popular sports betting and daily fantasy sports company listed on the NASDAQ.

Why is Draftkings Inc going down?

DKNG stock is down 5.3% on Nov 15, 2024 15:06

• DKNG stock experienced a bearish movement due to missing earnings and revenue estimates in Q3, leading to a downward trend in the market.
• The unfavorable outcomes in NFL games impacted DraftKings' guidance, causing analysts to focus on the company's 2025 outlook and opportunities.
• Despite initially trading lower, DKNG stock reversed course and started moving higher after the company reported Q3 earnings but lowered its guidance for the 2024 fiscal year, showcasing a volatile market reaction to the news.

DKNG Price Chart

DKNG Technical Analysis

DKNG News

DraftKings Q3 Earnings & Revenues Miss Estimates, Stock Down

DKNG's third-quarter 2024 results benefit from strong customer engagement, efficient acquisition, Sportsbook expansion and the Jackpocket acquisition.

https://www.zacks.com/stock/news/2367715/draftkings-q3-earnings-revenues-miss-estimates-stock-down

DraftKings Guidance Hit By Unfavorable NFL Outcomes: Analysts Focused On 2025 - DraftKings ( NASDAQ:DKNG )

DraftKings Inc DKNG analysts highlight the long-term outlook and opportunities after the company lowered fourth-quarter and full-year guidance Thursday. Benchmark analyst Mike Hickey reiterated a Buy rating with a $44 price target. Needham analyst Bernie McTernan reiterated a Buy rating with a ...

https://www.benzinga.com/general/sports-betting/24/11/41851532/draftkings-guidance-hit-by-unfavorable-nfl-outcomes-analysts-focused-on-2025

What's Going On With DraftKings Stock Friday? - DraftKings ( NASDAQ:DKNG )

DraftKings, Inc. DKNG stock initially traded lower on Friday but reversed course and began moving higher after the company reported third-quarter earnings and lowered its guidance for the 2024 fiscal-year after the bell on Thursday.

https://www.benzinga.com/trading-ideas/movers/24/11/41848816/whats-going-on-with-draftkings-stock-friday

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Draftkings Inc Price History

08.10.2024 - DKNG Stock was up 5.7%

• Despite showing a loss in Q3 and not meeting revenue expectations, DraftKings' stock displayed a strong upward trend, suggesting that investors might be placing emphasis on future growth potential rather than current financial performance.
• The company's Q3 revenue of $1.095 billion, up by 39% from the previous year, likely boosted investors' confidence in DraftKings' revenue-generating capabilities.
• DraftKings' announcement of fiscal year 2025 revenue projections ranging from $6.2 billion to $6.6 billion and the reiteration of adjusted EBITDA guidance could have contributed to the positive market sentiment surrounding the stock.
• The CEO's emphasis on achieving 'sustainable revenue growth' resonated positively with investors, leading to the stock's bullish movement despite the mixed results in Q3.

15.10.2024 - DKNG Stock was down 5.3%

• DKNG stock experienced a bearish movement due to missing earnings and revenue estimates in Q3, leading to a downward trend in the market.
• The unfavorable outcomes in NFL games impacted DraftKings' guidance, causing analysts to focus on the company's 2025 outlook and opportunities.
• Despite initially trading lower, DKNG stock reversed course and started moving higher after the company reported Q3 earnings but lowered its guidance for the 2024 fiscal year, showcasing a volatile market reaction to the news.

11.08.2024 - DKNG Stock was up 5.2%

• Today's positive movement in DraftKings' stock is linked to the optimistic outlook on the sports betting industry, supported by key players in the sector and the increasing integration of sports betting into modern sports culture.
• The bullish activities seen in high-stakes investors' bets on DraftKings options likely played a role in the stock's upward trajectory.
• Despite some bearish options activity, the overall positive sentiment from major market players and the potential growth prospects in the sports betting sector appear to have outweighed any immediate concerns, leading to DKNG's impressive performance today.

25.08.2024 - DKNG Stock was up 5.6%

• The positive movement in DraftKings' stock price could be attributed to the overall bullish sentiment in the market, driven by favorable guidance from Flutter Entertainment (FLUT).
• Flutter Entertainment's positive guidance for 2027 likely boosted investor confidence in the online sports betting sector, benefiting companies like DraftKings.
• Analysts foresee significant earnings potential in the growing online sports betting market, leading to increased optimism and investment in companies like DraftKings.
• The synergy between Flutter Entertainment and DraftKings in the online sports betting industry could have contributed to the upward momentum in DraftKings' stock price today.

25.08.2024 - DKNG Stock was up 5.4%

• DKNG experienced a strong bullish movement, outperforming the market.
• Positive analyst coverage on Flutter Entertainment (FLUT) highlighting growth potential in the sports betting market.
• The bullish movement in DKNG could be attributed to the overall optimism in the online sports betting sector, as indicated by the positive outlook on Flutter Entertainment.
• Market response suggests that investors are bullish on future earnings potential of companies in the sports betting industry, driving up DKNG's stock price.

18.09.2024 - DKNG Stock was up 5.9%

• Today's positive movement in DraftKings' stock can be linked to various factors:
• Anticipation and optimism among investors due to the upcoming release of the third quarter 2024 results on November 7, 2024.
• Observations in the options market suggesting a fluctuating trading environment with both bullish and bearish activities.
• DraftKings outperforming the overall market despite a downturn, displaying resilience and investor faith in the company's future growth opportunities.

07.07.2024 - DKNG Stock was down 5.0%

• Concerns about a potential recession and a weak jobs report have led investors to be cautious about consumer discretionary stocks, including DraftKings.
• The company reported mixed second-quarter financial results, with revenue falling slightly below expectations, prompting analysts to revise their forecasts.
• DraftKings' gaming surcharge plan being denied by Rush Street Interactive and Truist reducing the company's stock target due to tax surcharge worries have added pressure on DKNG stock.
• In summary, macroeconomic worries, mixed financial results, and analyst downgrades are key factors contributing to the downward trend in DraftKings' stock price today.

05.07.2024 - DKNG Stock was up 6.8%

• DraftKings stock showed promise despite lowered forecasts and concerns about a gaming surcharge, potentially boosting investor confidence.
• Rush Street Interactive's choice not to implement a gaming surcharge in high-tax states might have eased competitive pressures on DraftKings.
• While second-quarter revenue fell short of expectations, the positive EBITDA outlook maintained an "Outperform" rating.
• The market's response could be linked to DraftKings' resilience and positive long-term prospects noted by analysts.

13.07.2024 - DKNG Stock was up 5.0%

• Financial giants showed a bearish sentiment through options trading, yet DraftKings experienced a strong bullish movement today.
• Shares worth over $6 million were sold by DraftKings CEO Jason Robins, which could have raised concerns among investors initially, but did not hinder the stock's upward trajectory.
• The overall gaming industry has been under pressure due to concerns about economic softness and potential market sell-offs affecting gaming stocks. However, DraftKings managed to defy these challenges with its positive market movement.
• The implementation of a surcharge on winning bets by DraftKings in certain states may have been perceived as a strategic move to counter high taxes, potentially boosting investor confidence in the company's ability to navigate regulatory challenges and enhance profitability.

14.07.2024 - DKNG Stock was up 7.9%

• Truist's positive outlook on DraftKings amid industry competition might have bolstered investor confidence, contributing to the stock's upward trend.
• Despite the reduction in price target by Morgan Stanley citing profit worries, the overall market sentiment towards the stock seems to be largely optimistic.
• The investigation by the Schall Law Firm regarding potential securities law breaches could have caused initial uncertainty, but investors show confidence in the company's future prospects.
• Despite some short-term volatility driven by bearish options market dynamics and the CEO's share sales, the overall market sentiment for DraftKings remains positive, resulting in the stock's upward movement.

15.07.2024 - DKNG Stock was up 5.7%

• DraftKings stock saw a significant uptrend today.
• Reversing plans for a customer tax in high-tax states is believed to have positively impacted market sentiment.
• Flutter's soaring performance and decision against a similar surcharge may have reinforced investor trust in DraftKings.
• Despite recent mishaps such as unintended emails to bettors, DraftKings continued its upward movement in the market.

15.07.2024 - DKNG Stock was up 5.3%

• The positive market response could be linked to the company's reversal of plans for a customer tax, which differed from its competitor's approach.
• DraftKings' investor-friendly policies may have contributed to the favorable outcome.
• Despite concerns over an accidental email about golf bets, overall market sentiment towards DraftKings remained bullish.
• Today's market performance suggests investor trust in DraftKings' strategic choices and market position in sports betting.