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Is it Time to Dump DraftKings Inc (DKNG) Stock After it Has Risen 23.23% in a Week?

Thursday, August 11, 2022 10:06 AM | InvestorsObserver Analysts

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Is it Time to Dump DraftKings Inc (DKNG) Stock After it Has Risen 23.23% in a Week?

The market has been high on DraftKings Inc (DKNG) stock recently. DKNG gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
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?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With DKNG Stock Today?

DraftKings Inc (DKNG) stock is trading at $20.16 as of 10:05 AM on Thursday, Aug 11, a rise of $0.81, or 4.16% from the previous closing price of $19.35. The stock has traded between $19.56 and $20.16 so far today. Volume today is below average. So far 2,750,979 shares have traded compared to average volume of 19,646,138 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 company provides users with daily fantasy sports (DFS), sports betting, and iGaming opportunities and is also involved in the design & development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products. It operates in two segments: Business-to-consumer(B2C) and Business-to-Business(B2B), of which the vast majority of its revenue comes from the B2C segment. Geographically, it derives most of its revenue from the United States. Click Here to get the full Stock Report for DraftKings Inc stock.

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