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Technology Stocks : DraftKings, Inc. / Online Gambling
DKNG 30.57-0.1%Nov 3 9:30 AM EST
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To: Glenn Petersen who wrote (131)9/24/2020 8:58:59 AM
From: sixty2nds1 Recommendation

Recommended By
Glenn Petersen

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seekingalpha.com

DraftKings on watch with Macquarie pointing to rapid expansion for online sports betting
Sep. 24, 2020 8:17 AM ET|About: DraftKings Inc. (DKNG)|By: Clark Schultz, SA News Editor

Macquarie starts off coverage on DraftKings (NASDAQ: DKNG) with an Outperform rating and Street-high price target of $65.

Analyst Chad Beynon thinks DKNG can sustainably maintain top two share "given their marketing expertise, database, brand awareness and leading technology", which is seen leading to the creation of a multi-billion dollar enterprise with opportunities to move into new channels.

Important to the bull thesis, Beynon thinks DraftKings will use the Amazon, Netflix, Tesla playbook of needing to lose money to make money and sees online sports betting being available to 96% of the population by 2025.

Shares of DraftKings are up 0.36% premarket to $50.30. DraftKings is up more than 360% YTD.

Read the latest analysis on DraftKings
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