DraftKings rallies 8% as Michael Jordan joins betting company as board advisor

Charlotte Hornets owner Michael Jordan responds to a question during a 2014 news conference at Time Warner Cable Arena in Charlotte, N.C.rose 8% on Wednesday after the company said Michael Jordan is joining the betting company as a special advisor to the board of directors.

"While the immediate financial impact is hard to measure, we see this development benefiting [DraftKings] by associating its brand with the US most revered living athlete," wrote Jed Kelly, an analyst at Oppenheimer. "Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur," Robins said in a press release. "The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team."

Despite the Covid-19 headaches, DraftKings investors remain largely positive on DraftKings's longer-term outlook and have sent its stock soaring more than 240% so far this year to $36.93 by Tuesday's close.

JabariJYoung Huge BJ from Jabari as well. Let people finish the question before your emotions get the best of you. BLM and all

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