![]() ![]() ![]() Wall Street analysts on the whole remain quite bullish on DraftKings. “Along with what the Federal Reserve is going to do with interest rates, that’s out of our control.” what we’re seeing is more of an inflation-driven rotation out of high-growth stocks and into value stocks,” Robins says. He and his fellow cofounders remain optimistic about future upside ahead, however: “Our view is that it’s less specific to our industry. “If we had that same print three months ago, we probably would have gotten a different reaction from the market,” Robins says of the stock’s recent struggles. Shares are down nearly 14% so far in the second quarter. In May, DraftKings reported first-quarter earnings that beat expectations, but investors were somewhat rattled by the company’s increased marketing spend: Although revenue tripled from the year prior, to $312 million, sales and marketing costs for the quarter quadrupled from a year ago, to nearly $230 million. While DraftKings’ shares soared more than 330% in 2020, the stock has struggled in recent months. ![]()
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