DKNG - What Recession? These Companies Expect 20% Sales Growth This Year.
2023-05-17 08:45:00 ET
Many companies are bracing for a recession this year, and one looks to be coming, with gross domestic product up just 1.1% in the first quarter of 2023, below expectations. But that doesn't mean all businesses are going to be struggling.
DraftKings (NASDAQ: DKNG) and DexCom (NASDAQ: DXCM) are projecting their top lines to rise by 20% or more this year. What's behind their strong prospects, and are these stocks worth buying right now?
Sports betting has been growing in recent years as the government has lifted the ban on it and more states have legalized it. And one company that is benefiting from that trend is gambling and entertainment company DraftKings, which allows people to place bets through its sports book (where it's legal to do so) and lets fans play fantasy sports.
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What Recession? These Companies Expect 20% Sales Growth This Year.