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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DraftKings: More Fuel For The Rally