Jim Cramer Says You Should Avoid These 5 Stocks

2. DraftKings Inc (NASDAQ:DKNG)

Number of Hedge Fund Investors: 55

DraftKings Inc (NASDAQ:DKNG) is one of the stocks Jim Cramer is recommending investors to avoid for now. In a recent program, Cramer told investors to hit a “pause” on the stock for now and let it come down before buying it. Cramer acknowledged that DraftKings Inc (NASDAQ:DKNG) is a “great company.”

Baron Discovery Fund stated the following regarding DraftKings Inc. (NASDAQ;DKNG) in its fourth quarter 2023 investor letter:

“We added to our position in DraftKings Inc. (NASDAQ;DKNG), the leading mobile sportsbook and gaming operator in the U.S. While we lowered our estimates for the fourth quarter due to lower hold in the month of November, it is important to keep in mind that while hold can be volatile from quarter to quarter, the company continues to slowly increase hold over time (primarily because of a higher percentage of the handle being in higher hold “parlay” bets). We continue to be attracted to DraftKing’s dominant market share and the scale advantages that come with this.”