ARK Invest Sells DraftKings, But Is It a Cause for Concern?
Update: 2025-12-24
Description
Cathie Woods ARK Invest sold DraftKings shares, sparking investor curiosity. DraftKings, a Boston-based online sports betting leader, has a market cap of seventeen billion dollars but shares are down seven percent this year. Despite a four percent quarterly revenue increase, DraftKings missed Wall Street expectations. However, the company strengthened its cash position and expanded its share buyback. Traders brushed off ARKs sale, focusing on DraftKings solid fundamentals and raised long-term guidance. Analysts remain optimistic, citing expansion into new states and strong demand in NFL and NBA betting. DraftKings launched a new predictions app, rolled out a Spanish-language sportsbook, and inked an ESPN partnership. Despite steep losses and high multiples, the long-term bet on U.S. sports betting growth looks promising for patient investors.
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