- Our ongoing, somewhat bearish outlook on DKNG sprang from what we believed were bloated valuations and sector crowding. But we've always liked its business model and execution.
- We guided caution when the stock zoomed into the $70s and continued to be wary through its down cycle.
- Present valuation is far more realistic, but a sharp upside will come when Mr. Market can reasonably expect it to turn profitable.
- At any price from the mid-to low-forties, we like the stock.
For further details see:
DraftKings Revisited: Moving Guidance To Neutral Until The NFL Season Comes To The Rescue