DraftKings: More Fuel For The Rally

Summary:

  • DraftKings has raised its outlook for FY24, citing strong customer acquisition results and higher hold percentages.
  • The company’s acquisition of Jackpocket expands its total addressable market into the $100+ billion U.S. lottery industry.
  • DraftKings’ customer acquisition costs are decreasing over time, and it has a wide range of sports and gaming offerings to appeal to a broad audience.
Online Sports Betting Platform DraftKings Reports Quarterly Earnings

Justin Sullivan/Getty Images News

We’re in a very frothy stock market environment right now, but in my view, there’s never a bad time to continue leaning in on growth stocks that have a significant runway ahead for fundamental expansion.

One company that seems to


Analyst’s Disclosure: I/we have a beneficial long position in the shares of DKNG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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