DraftKings Inc.Long
LONG DKNG !
DKNG, better know as DraftKings Inc., is an American daily fantasy sports contest and sports betting provider. As of April 2016, the majority of U.S. states consider fantasy sports (including daily fantasy sports) a game of skill and not gambling. This is huge news due to the fact that if that bill in 2016 passed, sports gambling and fantasy sports gambling would be deemed illegal. With that being said, I see DKNG having a very bright future when it comes to its stock. On April 24th, 2020, during the corona pandemic that is ravaging most of the world, DraftKings launched their IPO, and finished the trading day up nearly 11 percent to $19.35. As reported by the Associated Press, DraftKings CEO Jason Robins said the long-term outlook for sports gambling is strong. ”I hope and believe that sports will come back and people will continue to have a strong appetite for sports,” Robins told the AP. ”If there is a trend away from being outdoors and going to the public places, you could actually see an increase in sports viewership once traditional sports are being played again. You could also see an increase in online activity.” I believe this to be true, and I believe in this company's sustainability. The P/E ratio is very high, at a whopping 529.44. This means one of 2 things. 1, investors might think that the stock is overvalued. 2, investors might see huge potential upside in the future. With all of this being said, I see DKNG in the 100's once sports continue. This is all just my opinion, so if you are going to invest in this stock, do so at your own risk. I'm in at $16 while the stock is currently at $27.66 and rising. Lets make some money people!
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