Topic: How To Invest

Power Growth Investor Hotline – Friday, September 4, 2020

Article Excerpt

DRAFTKINGS INC., $37.00, is a buy. The digital sports entertainment and gaming company (symbol DKNG on Nasdaq) provides sports betting in the states of Colorado, Indiana, New Jersey, Iowa, Mississippi, New Hampshire, New York, Pennsylvania, and West Virginia. Apart from sports betting, the company lets customers pick athletes to build fantasy teams across a range of professional sports. Other offerings include a mobile app that lets users play casino games, such as blackjack and roulette. Note, that product is currently available in New Jersey only. DraftKings began trading on the Nasdaq exchange on April 24, 2020. The stock jumped to over $41 this week on the announcement that National Basketball Association (NBA) legend and team owner Michael Jordan has agreed to purchase an undisclosed stake in DraftKings. He will also become a special adviser to its board of directors. As a special advisor, DraftKings hopes that Jordan—an NBA hall of famer and majority owner of the Charlotte Hornets—will provide strategic and creative input to…

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