The market has been high on Draftkings Inc (DKNG) stock recently. DKNG gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.
Draftkings Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on DKNG!
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With DKNG Stock Today?
Draftkings Inc (DKNG) stock is trading at $38.75 as of 11:59 AM on Thursday, May 28, an increase of $3.60, or 10.25% from the previous closing price of $35.15. The stock has traded between $34.62 and $39.50 so far today. Volume today is above average. So far 11,239,138 shares have traded compared to average volume of 8,181,937 shares.
To see InvestorsObserver's Sentiment Score for Draftkings Inc click here.
More About Draftkings Inc
DraftKings Inc is a digital sports entertainment and gaming company. The firm provides users with daily fantasy sports, sports betting, and iGaming opportunities. It offers online and retail sports wagering offerings, online daily fantasy sports contests, and online casino games. The company generates its revenue from online gaming which includes daily fantasy sports, iGaming, and Sportsbook. Geographically, it generates revenue from the United States.
