DKNG - DraftKings: More Fuel For The Rally

2024-03-18 15:31:08 ET

Summary

• DraftKings has raised its outlook for FY24, citing strong customer acquisition results and higher hold percentages.
• The company's acquisition of Jackpocket expands its total addressable market into the $100+ billion U.S. lottery industry.
• DraftKings' customer acquisition costs are decreasing over time, and it has a wide range of sports and gaming offerings to appeal to a broad audience.

We're in a very frothy stock market environment right now, but in my view, there's never a bad time to continue leaning in on growth stocks that have a significant runway ahead for fundamental expansion....

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