DraftKings Inc. (NASDAQ: DKNG) price today is up 5.23% from yesterday's close of $20.33 per share. This is following an upgrade from "Equal-Weight" to "Overweight" from Morgan Stanley in a report titled “Too Big an Opportunity to Ignore; Upgrade to Overweight”.
What Is DraftKings?
DraftKings is an online sportsbook and "fantasy" sports platform. Users in states where sports gambling is legal can place sports bets directly through the DraftKings app, while users across the country can play daily fantasy sports games for cash prizes. DraftKings' platform offer sports betting for top sports like football, basketball, cycling, MMA, and more. Blackjack, roulette, slots and other games are offered as part of the companies Casino product.
Why Are Investors Interested in DraftKings (DKNG) Stock?
DraftKings is a leader in online sports-betting, which is seeing legalization spread across the United States. With big announcements, like striking a deal with the UFC to be its official sportsbook and "daily fantasy partner", DraftKings is well-positioned for this form of gaming and betting as the industry becomes much more normalized in the digital era.
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