DraftKings Inc. (DKNG)
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.
DraftKings, FanDuel Stocks Blitzed By 140%+ Illinois Tax Hike
DraftKings stock and FanDuel-parent Flutter Entertainment both fell after the Illinois Senate advanced a budget that would more than double online sports betting taxes.
DraftKings and FanDuel Stocks Drop on Sports Betting Tax Hike
This new move would make Illinois the second most expensive state for online sports gambling companies to operate in.
DraftKings hit by Illinois sports betting bill
DraftKings Inc is down close to 10% in premarket on Tuesday after Illinois passed a legislation related to a sports-betting tax hike. Here's what Illinois legislation means for $DKNG Illinois will now impose the second highest tax on sports betting companies.
DraftKings and FanDuel parent hit by Illinois sports-tax legislation
Shares of DraftKings and FanDuel owner Flutter Entertainment traded lower on Tuesday after the Illinois Senate passed a bill that includes a sports-betting tax hike.
Is Trending Stock DraftKings Inc. (DKNG) a Buy Now?
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.
DraftKings: Tailwinds On All Sides
DraftKings' share price has jumped 25% this year, outperforming the broader market as it continues to rapidly gain new users. The company's recent launches in North Carolina and Vermont added ~10% more users than the company initially expected. DraftKings has a large addressable market, improving customer acquisition costs, and offers a wide range of sports and gaming options.
Buy The Dip On This Sports Betting Stock
DraftKings (DKNG) has been choppy since its Mar. 27 two-year high of $49.57, with 2.8% post-earnings bear gap on May 3 not helping matters. Last seen down 3.3% to trade at $42.42 and on track for a fourth loss in the last five days, the silver lining is that this pullback has the stock near a historically bullish trendline.
3 Soaring Stocks I'd Buy Now With No Hesitation
The so-called Amazon of Latin America, MercadoLibre may end up dishing out Amazon-like gains by being in the right place at the right time. DraftKings' unprofitable start is about to undergo a sweeping change as its customer base matures.
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Quite often we read about societal pressures that have driven the increased use of everything from narcotics to gambling to even the reemergence of nicotine and tobacco. Unfortunately, with many of the economic difficulties of the 21st century, young people, now more than ever, rely on substances and thrills to get through the day.
