Jim Cramer Discusses DrafKings’ (DKNG) Performance

We recently published Jim Cramer Revealed His Big AI Investing Fear & Discussed These 20 Stocks. DraftKings Inc. (NASDAQ:DKNG) is one of the stocks discussed by Jim Cramer.

Sports betting platform DraftKings Inc. (NASDAQ:DKNG)’s shares are down by 34% over the past year and by 30% year-to-date. Argus cut the firm’s rating to Hold from Buy on March 12th as it discussed several factors, such as customer acquisition costs and market share. Argus warned that DraftKings Inc. (NASDAQ:DKNG) appeared to be facing high acquisition costs and added that it was also losing market share in the US iGaming market. The coverage came after Benchmark had reiterated a Buy rating and a $29 share price target for DraftKings Inc. (NASDAQ:DKNG) on March 3rd as it discussed the firm’s platform monetization. Bernstein reiterated an Outperform rating and raised the share price target to $30 from $28 on the 5th.  Tehe financial firm outlined that DraftKings Inc. (NASDAQ:DKNG) could grow its market share by expanding into previously untapped regions. Cramer commented on the recent earnings report and the firm’s CEO’s remarks:

“Look when I had Jason on, we’re talking about Jason Robins the CEO. . .this was the house doing well, talking about the prediction markets doing well, this was quite a break, say, from Flutter. That was something, wasn’t it?”

Jim Cramer Discusses DrafKings' (DKNG) Performance

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