DraftKings News Flow: Fresh Capital, Legalization Roadmap, COVID-19 Surge
California is the big prize for online sports betting, but the path to legalization has recently become a little less clear. Plus, investors, driven by the optimism for the return of sports, have piled into DraftKings stock but a resurgence in Coronavirus is making the future of sports more difficult to predict.
DraftKings vs. FanDuel: The Fight for Market Share
Unsurprisingly, sports betting handle and revenue have cratered significantly as the entire sports industry was sidelined by COVID-19, but the quiet stretch will likely prove to be the calm before the storm between DraftKings and FanDuel.
Why It Might Not Be Too Late to Buy DraftKings Stock
Canaccord Genuity raised its price target for shares of DraftKings to $50 from $35 and reiterated its BUY rating on Wednesday, citing platform engagement and potential for accelerated sports betting legalization.
No Sports, No Problem: Investors Roll the Dice on DraftKings
DraftKings said in its earnings report it does not anticipate COVID-19 having a long-term impact on its business. The daily fantasy sports and sports betting company is leaning on new products including table tennis and fantasy Korean baseball as it waits for major sporting events to return.