OT: DraftKings stock

[HuskRecruit]

DraftKings ($DKNG) stock went public in late April at around $17 and has shot all the way to $41 with no signs of slowing down.

With Sports gambling becoming more mainstream & widespread in the US and additional states thinking of passing sports betting legislation to overcome loss of income due to COVID, no reason to think this stock doesn’t hit $100 sooner rather than later.

It is taking off while no sports are even on, what happens when all 4 sports plus golf, soccer, nascar are rolling over the next 12 to 18 months?

Agree/disagree? Love to hear contrary opinions if anyone cares to share.

 

[HamptonHusker]

I am with you. I picked up some shares of MGM and William Hill when they were getting hammered from the China Virus. I wish I had pulled the trigger on Churchill Downs as well, it has went up 80 points in the last month or so.

Check out Clay Travis on Twitter, he has been all about gambling stocks the last 8 months or so, before the virus stopped everything. He has been spot on up to this point.

 

[HuskRecruit]

Clay blocked me when I was screwing with him a couple years ago . I have a burner account just to keep tabs on him.

Check out $GAN over the past month or two. Same deal - exploding daily.

 

[Dean Pope]

I'm no expert, but I wouldn't touch it. Highly speculative at this point since I think they actually lost money the last couple of years. And if that is they case, what the hell will this year look like? Fewer sports being played. Unemployment sky high.

If it were me, I'd keep my money elsewhere and revisit what things look like next year. I just don't think there is any way that they will pay a dividend in the coming years. And if they ever do get profitable again, I'm not so sure that some well financed competition would come in to take some market share.