DraftKings (DKNG) Could Be 8% Undervalued On Spending And Revenue Pressure

Investor debate around DraftKings (DKNG) has intensified after the stock’s steep slide this year, as heavier spending on its Predictions business, softer recent revenue trends, and regulatory questions collide with management’s steady full year guidance. At around US$19.31, DraftKings’ recent trading tells a clear story of fading momentum. A 1 day share price return of 2.17% offers only a brief pause in a much steeper 30 day share price decline of 21.63%, and a year to date share price return...