What's Going On With DraftKings Stock Thursday?
Portfolio Pulse from Vaishali Prayag
DraftKings Inc. (NASDAQ:DKNG) shares are trading lower due to concerns over increasing taxation in the sports betting industry. The company has also completed its acquisition of digital lottery app Jackpocket, aiming to enhance customer acquisition and cross-selling initiatives.
May 23, 2024 | 7:53 pm
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DraftKings shares are down due to concerns over increasing taxation in the sports betting industry. The company has completed its acquisition of Jackpocket, aiming to enhance customer acquisition and cross-selling initiatives.
The stock is experiencing weakness due to the potential for higher taxes in key states, which could impact profitability. However, the acquisition of Jackpocket is a strategic move that could drive future growth.
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