Shares of daily fantasy and sports-betting company, DraftKings, have jumped over 50% as online gamblers bet on everything from video games and a charity golf match to table tennis and Korean baseball by skleb1234
Since going public last month, shares of daily fantasy and sports-betting company, DraftKings, have jumped over 50% as online gamblers bet on everything from video games and a charity golf match to table tennis and Korean baseball.
In the absence of professional baseball, hockey or basketball, sports bettors have turned to video games and esports. “It’s been a huge growth area over the last couple months for us,” CEO Jason RobinsDraftKings is benefiting from an uptick in demand for gambling on all kinds of events outside of U.S. sports including pop culture, news, reality TV shows and foreign sports like Russian table tennis and Korean baseball.
Wall Street analysts are quite bullish on the stock: Five of them give it a “buy” rating, while just one gives it a “hold” rating. Most firms assign DraftKings, which currently trades for just over $29 per share, a price target of between $30 and $35 per share.during the company’s earnings call last week. “People are hungry for sports to come back.”, one of the first major Wall Street banks to initiate coverage of the stock, is lukewarm on DraftKings.
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