DraftKings’ stock rockets as earnings ‘send a powerful message’

The company delivered record quarterly revenue Thursday afternoon, and while it still posted a sizable net loss, that loss had slimmed relative to a year before. Additionally, Chief Executive Jason Robins said DraftKings DKNG was working to “accomplish more with the same resources.”The company delivered record quarterly revenue Thursday afternoon, and while it still posted a sizable net loss, that loss had slimmed relative to a year before.

In his view, that trend indicates “the positive implications of the [fourth-quarter] print aren’t fully reflected in the stock, as the fundamental levers for further beats are in place for ’23/24+.” Additionally, DraftKings “is now in a stronger competitive position with the OSB [online sports-betting] market rationalizing, line of sight to positive cash flow, and room to be more aggressive with growth investment.

Smoke and mirrors folks…they’re the worst out there. Avoid.

$DKNG 💪🏼

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