DraftKings

DKNG

Market cap $12.6B

NEW YORK--(BUSINESS WIRE)---- $DKNG #ARCEntertainmentGroup--Beacon Market Research initiates TRWD coverage with a Positive rating and a $67M–$88M near-term enterprise value target.

Zacks.com users have recently been watching DraftKings (DKNG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

At first, I was a bit skeptical of the barrage of bearish bets placed by Dr. Michael Burry, the man made famous by The Big Short film.

NEW YORK--(BUSINESS WIRE)---- $DKNG #ARCEntertainmentGroup--TRWD targets Multi Million Dollar adult payment processing, POS services and venue technology industry.

Investor Michael Burry made hundreds of millions of dollars as the Great Financial Crisis unfolded by shorting subprime mortgages. This would lead to his eventual portrayal in the film “The Big Short," positioning him as a famed investor.

DraftKings (DKNG) reached $26.29 at the closing of the latest trading day, reflecting a -3.24% change compared to its last close.

BOSTON--(BUSINESS WIRE)--DraftKings Inc. (Nasdaq: DKNG) today announced plans to launch its top-rated online sportsbook and casino, along with its Golden Nugget Online Gaming brand, in Alberta on July 13. Alberta will become the second Canadian province and the 34th jurisdiction across North America where DraftKings Sportsbook is available. With the launch, DraftKings Casino will be available in five U.S. states and Golden Nugget Online Gaming casino in four U.S. states, with both brands availa.

DraftKings may deliver outsized FQ2'26 and H2'26 performance metrics, thanks to the potentially higher engagement trends from the FIFA World Cup/NFL/Midterm Election events. These may contribute to a raised FY2026 guidance, aided by the ramping-up prediction platform, the upcoming super app launch in Q3'26, and the growing base/revenue per user in FQ1'26. DKNG has also found a trading floor in the $20s, with the ambitious Investor Day targets implying their cheaply valued, multi-year, profitable growth prospects.

Michael Burry said on Wednesday that he is leaning into sports betting, adding long positions in DraftKings Inc. (NASDAQ:DKNG) and Flutter Entertainment plc (NYSE:FLUT), while cautioning against fast-growing prediction markets.

Michael Burry, the investor famed for predicting and profiting from the 2008 U.S. housing market collapse, has bought shares ​of sports-betting platforms Flutter Entertainment and DraftKings , wagering regulatory scrutiny ‌will eventually curb the threat posed by prediction markets.