Shares of sports betting-related stocks are trading higher, possibly in anticipation of the 2024 NCAA tournament.
Portfolio Pulse from Benzinga Newsdesk
Shares of sports betting-related stocks, including DraftKings Inc. (DKNG) and MGM Resorts International (MGM), are trading higher, potentially due to anticipation of the 2024 NCAA tournament.
March 18, 2024 | 4:34 pm
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POSITIVE IMPACT
DraftKings Inc. shares are trading higher, possibly due to anticipation of increased betting activity for the 2024 NCAA tournament.
The anticipation of the 2024 NCAA tournament is likely to increase betting activity, which could boost DraftKings Inc.'s revenue and profitability in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
MGM Resorts International shares are experiencing an uptick, potentially driven by expectations of higher sports betting volumes during the 2024 NCAA tournament.
With the 2024 NCAA tournament on the horizon, MGM Resorts International is likely to see an increase in sports betting, positively impacting its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80