DraftKings shares are trading higher after the company announced it is no longer pursuing an acquisition of the US business of PointsBet.
Portfolio Pulse from Benzinga Newsdesk
DraftKings has announced that it will no longer pursue the acquisition of the US business of PointsBet. This has led to a rise in DraftKings' share prices.
June 29, 2023 | 4:13 pm
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POSITIVE IMPACT
DraftKings' decision to not acquire PointsBet's US business has led to an increase in its share prices.
The decision to not pursue the acquisition could be seen as a positive move by investors, as it may indicate that the company is focusing on its core business and avoiding potential risks associated with the acquisition. This has led to an increase in the company's share prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100