Jim Cramer on DraftKings: “This Thing Finally Has Momentum”

DraftKings Inc. (NASDAQ:DKNG) was among the stocks Jim Cramer highlighted during Mad Money, as he noted the rotation into defensive sectors. When a caller asked if it is time to “dump” their position in the stock, Cramer said:

This thing finally has momentum… There are people all over the world… right now are saying, you know what, I’ve been staying away from that DraftKings forever. Suddenly, it’s step by step, inch by inch, it’s going higher. Darn it, it’s going up… And that’s what’s going to happen. I don’t think you sell DraftKings. I actually think you buy DraftKings because there’ve been people waiting to buy DraftKings for years, and it’s finally showing that it’s going up.

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DraftKings Inc. (NASDAQ:DKNG) is a digital sports entertainment and gaming company that provides online sports betting, daily fantasy sports, and iGaming products, including blackjack, roulette, and slots. Cramer mentioned the stock during his game plan presented on February 6, as he remarked:

Then there are two contrasting storied stocks that make terrific bookends for this segment, DraftKings and Agnico Eagle. DraftKings is stymied by a lack of consolidation in an industry that needs California, Florida, and Texas to change their minds and allow gambling. I’m beginning to believe that unless they find new people who can help them open accounts, the stock might falter. It’s so low now, though, that it reflects no good and a whole lot of bad.

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