DraftKings Stock News

The mobile gaming company saw its customers winning more than usual in the recently completed quarter.

DraftKings stock price has rallied for seven consecutive days, reaching its highest level since June 20 after publishing better earnings than expected. DKNG shares jumped to a high of $43, up by over 50% from its lowest level in August.

DraftKings' NASDAQ: DKNG share price struggles to advance in 2024, but the signs are clear that there is support for this stock. The technical action shows sustained support in the low end of a trading range, a strengthening base of support that will help propel the stock higher over the next year.

The company experienced “the most customer-friendly stretch of NFL sport outcomes we have ever seen,” its CEO said.

Shares of DraftKings slid after reporting Q3 results, primarily because the company lowered its full-year revenue and adjusted EBITDA targets. The company blamed unfavorable NFL outcomes so far QTD in Q4 as the reason for the drop. In Q2, the company made a similar statement about MLB outcomes. The company is still retaining its expectations of $0.9-$1.0 billion in adjusted EBITDA in FY25, whic...

DraftKings (DKNG) shares rebounded from early losses Friday after the company posted weaker-than-expected earnings, but offered a strong outlook for 2025.

Customer acquisition and its associated costs remain a double-edged sword for officials at DraftKings, according to co-founder and CEO Jason Robins. Third-quarter results released Thursday (Nov. 7) revealed a 39% increase in revenue to $1.1 billion, fueled by the return of the NFL season.

The online gaming platform posted strong revenue growth despite profitability challenges.