11 Stocks Failing to Keep up With The Market

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4. DraftKings Inc. (NASDAQ:DKNG)

DraftKings plummeted by 11.59 percent on Tuesday to end at $37.40 apiece after investors unloaded positions to mitigate risks of Kalshi’s launch of a new product that poses a threat to its business.

DraftKings Inc. (NASDAQ:DKNG) fell alongside its counterparts after Kalshi announced on Monday its new “build your own combo” parlay product that would allow users to pair multiple contracts with a game.

Adding to the sentiment was that 90 percent of Kalshi’s betting volume comes from sports contracts, and that the latter could operate in states and at ages that online sports betting applications are unable to cater to.

The product was unveiled ahead of the dual football matchups on Monday night, between the Dolphins and the Jets, and the Bengals and the Broncos.

The drop also showed that investors shunned news from DraftKings Inc. (NASDAQ:DKNG) on Monday that it entered into a multi-year advertising agreement with NBCUniversal to execute exclusive integrations and digital sponsorships across NBCUniversal’s top-tier sports properties, including premier national coverage.

Under the agreement, DraftKings Inc. (NASDAQ:DKNG) will be featured across NBCUniversal’s extensive portfolio of sports properties, spanning the NFL, PGA TOUR, Ryder Cup, Premier League, NCAA football and basketball, NBA, WNBA, and more.

The deal also includes NBCUniversal’s tentpole events, including Super Bowl LX, NBA All-Star Weekend, and the 2026 FIFA Men’s World Cup on Telemundo.

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