Why DraftKings (DKNG) Dipped More Than Broader Market Today
DraftKings (DKNG) closed the most recent trading day at $36.89, moving -1.78% from the previous trading session.
Here is What to Know Beyond Why DraftKings Inc. (DKNG) is a Trending Stock
DraftKings (DKNG) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Terrible News for DraftKings Stock Investors
Taxes could crush DraftKings' improving business.
Could Investing $100,000 in DraftKings Stock Make You a Millionaire?
DraftKings stock tumbled recently after legislators in Illinois passed a significant tax hike on sports betting businesses. It's unclear whether other states will follow suit.
Why DraftKings Stock Cratered and May Fall Further
Illinois increased its tax on online gaming revenue, which will be a big hit to DraftKings. Taxes are a huge threat to DraftKings' improving bottom line.
Massive News for DraftKings Stock Investors
An increase in the tax rate will hurt DraftKings' business in one of its larger markets.
Where Will DraftKings Stock Be in 5 Years?
DraftKings is benefiting from more states legalizing online sports betting. The next stage of the company's growth will be from becoming more profitable.
DraftKings Stock Hobbles To Worst Day Since 2022 On Illinois Tax Fears
Bets on sports betting giants came up short Tuesday, as shares of gambling market dominators DraftKings and FanDuel tanked as Illinois closed in on a significant increase on the tax rate facing the companies' operations in the state.
Signal: Buy the Dip on DraftKings Stock
The shares of sports betting company DraftKings Inc (NASDAQ:DKNG) are crumbling today, last seen 11.6% lower to trade at $36.09, after the Illinois Senate passed a 2025 budget that will raise taxes on gross gaming revenue raise by more than 140%.
Why DraftKings Stock Just Crashed 13.5%
Illinois is more than doubling the tax rate on online sports betting. DraftKings could face a 37% tax bill in 2025.
Sports-Betting Stocks Drop as Illinois Senate Passes Budget Raising Tax Scale
Sports-betting stocks like DraftKings (DKNG) and FanDuel parent Flutter Entertainment (FLUT) are sliding Tuesday following the Illinois Senate passage of a new state budget that includes a new progressive tax rate on such firms.
DraftKings (DKNG) Stock Falls as Illinois Senate Passes Sports Betting Tax
DraftKings (NASDAQ: DKNG ) stock fell 7% over the weekend after the Illinois Senate passed a hike to the state's sports betting tax. The Senate package is different from a bill already approved by the Illinois House.
