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DraftKings Inc DKNG

DraftKings Inc. is a digital sports entertainment and gaming company. The Company provides users with online sports betting (Sportsbook), online casino (iGaming) and daily fantasy sports (DFS) product offerings, as well as retail sportsbook, media and other consumer product offerings. The Company is also involved in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators. The Company’s Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 27 states and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in three states under its Golden Nugget Online Gaming brand. It owns Jackpocket, the digital lottery app in the United States. Its daily fantasy sports product is available in 44 states, certain Canadian provinces, and the United Kingdom.


NDAQ:DKNG - Post by User

Post by MarketWolf24on Nov 26, 2024 10:04am
11 Views
Post# 36330996

Is DKNG Ready to Turn Profits or Still Chasing the Dream

Is DKNG Ready to Turn Profits or Still Chasing the DreamGotta say, I’m torn on DKNG right now. The revenue growth looks great — they’re expanding like crazy and grabbing market share in a booming industry, but the path to profitability is still looking pretty distant. Every earnings call seems to be about when they’ll hit profitability, not if. That’s fine for now, but I’m keeping an eye on their balance sheet and cash burn.The thing is, this stock has been bouncing between $15-$25, and I'm honestly thinking this is the sweet spot. If you're already in, now’s the time to think about taking some off the table on a big rally, or at least raise your stops and lock in some gains. If they finally show some clear path to profitability in the next couple quarters, this stock could finally break out and head into the $30s. But until that happens, it's high risk, high reward.I’m also watching $BOLT, though. I’m hearing whispers in the community that it could be on the verge of a big move. Could be a solid play if you're looking for something with a bit more explosive potential.Anyone else here using options to hedge this kind of play? A long call on a good earnings beat could be an interesting move. I’m just not sure I want to go all in until I see more stability.
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