DKNG - DraftKings Stock: Thrown Out With The Bathwater Why I'm Long

2024-06-28 14:34:08 ET

Summary

• DraftKings Inc. stock appears to be a pointless investment due to recent volatility, but sticking with the thesis may lead to rewards.
• DraftKings Inc. is projected to grow at a 37% CAGR in 2024, with revenue expected to exceed $5 billion, driven by strategic acquisitions and innovation.
• Despite a net debt of approximately $400 million, DraftKings is expected to generate $500 million in free cash flow by early 2025, with a price target of $65 per share by summer 2025.

Investment Thesis

DraftKings Inc. ( DKNG ) is a stock that has hit a rough patch. The stock appears to be a pointless investment, as it swings down more than 20% from its recent highs....

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