RESOLVING THE LEDGER
This is one outlet's own report from The Motley Fool — the article as it was filed. Other outlets are covering the same event; open the full story to compare every source side by side.
See the full story · 2 sources
DraftKings (NASDAQ:DKNG) , a digital sports betting, fantasy sports, and iGaming platform, closed at $24.03, up 8.39%. Investors focused on prediction-market and customer-activity growth after Q2 results missed expectations. Trading volume reached 36.1M shares, coming in about 173% above its three-month average of 13.2M shares. DraftKings IPO'd in 2019 and has grown 145% since going public.
The S&P 500 (SNPINDEX:^GSPC) rose 0.59% to 7,756, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.28% to 26,686. Among online gaming, sports betting, and digital entertainment peers, Flutter Entertainment (NYSE:FLUT) closed at $94.74, up 1.86%, while Rush Street Interactive (NYSE:RSI) finished at $24.86, down 0.88%, highlighting mixed trading across sector rivals.
While the headline of DraftKings’ sales dropping 5% may look bad at first blush, it was actually a pretty solid quarter. In a quarter where many favorites won, or “customer-friendly sport outcomes” occurred (as DraftKings called it), most of the company’s non-sales figures were fine:
Continue reading
AIPROPX is an independent multi-source news index — we track, compare, and connect coverage from across the web into one place you won't find anywhere else.