Was Jim Cramer Right About These 12 Stocks?

Page 4 of 12

9. DraftKings Inc. (NASDAQ:DKNG)

Number of Hedge Fund Holders: 65

Back in 2024, on May 16, a caller asked about sports betting stocks ahead of football season at the time, specifically DraftKings Inc. (NASDAQ:DKNG). Cramer said:

“Look, I saw Flutter’s numbers — that means that DraftKings is the one to buy. It’s terrific.”

DraftKings went the wrong way after Cramer’s call, dropping 17.95% even as sports betting continued growing. DraftKings Inc. (NASDAQ:DKNG) is slipping despite strong sports betting trends, as rising costs and competition pressure margins.

During a recent Mad Money episode which aired on May 15, Cramer admitted he was too bullish on the stock, but he still sees a potential bullish scenario. Here’s what he said:

“I’ve gotta tell you, you could say I’ve been too bullish on it. I just really believe that we were, you know, we’re still too far away from football season, but I do genuinely believe that what has to happen is some of these states that don’t have gambling have to get gambling, and that’s what I think it’s really about. I thought it was about the handle. I thought it was about the hold. I’m beginning to think it’s about these states that don’t allow gambling yet that have to.”

Page 4 of 12