DraftKings stock rockets after Morgan Stanley says it’s now too cheap to ignore [Yahoo! Finance News]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance News
Shares of DraftKings Inc. bounced sharply Wednesday off a near two-year low, after Morgan Stanley analyst Thomas Allen turned bullish, saying the price plunge has created “too big an opportunity” for long-term investors to ignore.The upgrade comes as the stock’s, Allen raised his rating on the digital sports entertainment and gaming company to overweight, after resuming coverage at equal weight in early November. He kept his stock price target at $31, which implies about 39% upside from current levels.The stock soared 15.7% in morning trading, which puts it on track for the second-biggest-ever one-day gain, and the biggest since the record 17.3% rally on Sept. 14, 2020.On Tuesday, the stock had closed ($19.32) at the lowest price since April 28, 2020. It had tumbled 29.1% sincemobile sports betting went live in New York on Jan. 8reported a wider-than-expected third-quarter lossThe company’s next quarterly report is due out mid-February.Morgan Stanley’s Allen said data released
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Earnings
- 2/15/24 - Beat
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Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- DKNG's page on the SEC website