Should You Buy Draftkings Inc (DKNG) Stock on Tuesday?

Draftkings Inc (DKNG) stock has gained 10.57% over the past week and gets a Bullish rating from InvestorsObserver 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!

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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 $56.51 as of 1:08 PM on Tuesday, Aug 24, a rise of $3.19, or 5.98% from the previous closing price of $53.32. The stock has traded between $53.47 and $56.60 so far today. Volume today is 9,308,326 compared to average volume of 10,959,415.

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.