#5 - DraftKings (NASDAQ:DKNG)
It won't surprise many investors to find out that DraftKings Inc. (NASDAQ: DKNG) was a pioneer in using artificial intelligence and machine language models in ways that simplified the customer experience. The question may be, are there areas where the company isn't using AI?
In a June 2023 interview, Paul Liberman, President of Global Product and Technology, at DraftKings, described how DraftKings uses generative AI for internal processes. As Liberman notes, what makes the company an opportunity for AI is its focus on sports modeling, which makes for what he called a "...really, really interesting problem set."
The company must be doing something right. In its most recent quarter, the company had 35% of the online sports betting handle in the U.S. And DKNG stock is up an impressive 142% in the last 12 months. In 2024, North Carolina became the 39th state to approve online sports betting. And six other states have active legislation or ballot initiatives. Each new state represents an additional opportunity for DraftKings to build on its market share lead.
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
- $42.94
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $50.85 (18.4% Upside)
