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The Sports Index sports stock market and sports business news posted Friday after closing bell. Year-to-date performance chart for 12-index composite, individual indices, and related market sectors. Full list of charts in weekly newsletter and at STOCKS link
The Sports Index stock of the week: Draftkings - Sports stock market benchmark
Sportsbook provider Draftkings Inc. (DKNG:NASDAQ) "had over $8 billion in potential payouts riding on Super Bowl LX," writes The Block. Draftkings also set a record for trading volume on its Draftkings Predictions platform. This week, Draftkings reported a 43% growth in revenue for the 4th quarter, per GlobeNewswire. However, it missed earning estimates, although revenues were in line with projections, per Seeking Alpha. Nonetheless, despite getting a slight share spike on Monday after the Super Bowl, investors overall weren't impressed as DKNG shares closed ▼20.06% for the week. "Gambling stocks sag as prediction markets steal Super Bowl bets," writes Bloomberg. Lastly, Draftkings and rival FanDuel both announced this week that they would end the practice of accepting credit card deposits, a point of contention concerning gambling addiction. Gambling Insider has details.
BULL-BEAR Leaderboard © by The Sports Index sports stock market sports business
BULL-BEAR Leaderboard © by The Sports Index sports stock market sports business
BULL-BEAR Leaderboard © tracking the top and bottom performers in each of our 12 proprietary stock market indices, plus peripherally-related casino gaming companies as well as exchange traded funds.
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