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Stock impact report

DraftKings goes public without many live sports to bet on [CNNMoney.com]

Diamond Eagle Acquisition Corp. (DEACU) 
Company Research Source: CNNMoney.com
DraftKings goes public without many live sports to bet on New York (CNN Business) There are no baseball, basketball or hockey games being played right now. Football, if the season starts on time, won't be ready to kick off until late August for college and September for the pros. But DraftKings ( DKNG ) , a company that runs fantasy sports games and lets people make legal wagers on sporting events, said late Thursday it will go public on Wall Street Friday in this coronavirus-induced sports vacuum. DraftKings shares will trade on the Nasdaq under the ticker symbol "DKNG." The company did not go public through the traditional route of selling new stock via an initial public offering. It didn't even list shares directly to an exchange like Slack ( WORK ) and Spotify ( SPOT ) did to go public. Instead, DraftKings merged with a special purpose acquisition company (SPAC) named Diamond Eagle Acquisition Corp ( DEAC ) . SPACs are so-called "blank check" pub Show less Read more
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