DraftKings, Inc. / Online Gambling Message Board

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Technology Stocks : DraftKings, Inc. / Online Gambling

DKNG 27.97

+0.2%

Nov 6 3:59 PM EST

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Glenn Petersen

To: Glenn Petersen who wrote (74)	6/17/2020 12:28:30 PM
From: sixty2nds	1 Recommendation of 282

seekingalpha.com Smart bet by DraftKings with secondary timing - Oppenheimer Jun. 17, 2020 9:28 AM ET\|About: DraftKings Inc. (DKNG)\|By: Clark Schultz, SA News Editor Oppenheimer thinks DraftKings (NASDAQ: DKNG) took advantage of favorable market conditions to shore up its balance sheet with its secondary offering announced last night. The share sale arrives ahead of more states regulating online sports betting/iGaming, which could mean higher marketing costs for DraftKings. Analyst Jed Kelly: "Post the offering, we estimate DKNG will have $1.1-1.2B in cash and we currently forecast DKNG spending ~$876M on sales and marketing over the next three years. Potential acquisition/investment opportunities could be in a media partnership similar to PENN/Barstool or opportunities in emerging products such as eSports." "We believe upside is being driven by higher iGaming revenue and pentup demand for sports betting as live events (UFC/NASCAR/golf) gradually return." DraftKings is a momentum stock at the moment. Performance, moving averages and relative strength can all be tracked on Seeking Alpha's momentum page. Shares of DraftKings are down 4.22% premarket to $38.81. See all stocks on the move »

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