#7 - DraftKings (NASDAQ:DKNG)
DraftKings Inc. (NASDAQ: DKNG) is the leader in the emerging sports betting market. Significantly, it’s the leader in the online sports betting market, where the vast majority of betting takes place. That is showing up in the number of unique customers joining the DraftKings platform.
The bullish thesis for DKNG stock lies in the idea that several large states have yet to legalize online sports betting. However, the allure of potential revenue will likely prove too hard to pass up. On the other hand, online sports betting also gives states something else to tax. That’s creating a problem for the company in Illinois and is likely to become an issue in other states.
This is an issue to watch before you put money into a company that is currently not profitable. On the other hand, many states will have to tread carefully not to bite on the hands that feed them.
About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.
Read More - Current Price
- $38.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $50.22 (31.3% Upside)
Should you invest in meme stocks? The answer is the same for the question, should you invest in technology stocks, consumer staples stocks, or any other stock sector? That is, it depends. And with meme stocks, it can depend on why the stocks are catching traders' attention.
In many cases, meme stocks are penny stocks. These stocks attract retail traders because a small capital investment can yield a significant profit. On the other hand, penny stocks carry some of the highest short interest that can cause the price to move wildly in either direction.
Like other sector stocks, some recent exchange-traded funds (ETF) that are dedicated to meme stocks have popped up. One of these is the Roundhill MEME ETF (NYSEARCA: MEME). And MarketBeat provides a free tool that allows you to compare popular meme stocks on a variety of factors, including analyst ratings, price performance, and price & volume.
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