Why DraftKings Inc. (DKNG) Soared Last Week

We recently compiled a list of the Last Week’s Top 10 Stocks Post Double-Digit Gains. In this article, we are going to take a look at where DraftKings Inc. (NASDAQ:DKNG) stands against the other stocks.

The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.

On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.

Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is DraftKings Inc. (DKNG) the Best Sin Stock to Invest in 2025?

A woman at a betting table paying out customers who won their sports bets.

DraftKings Inc. (NASDAQ:DKNG)

Shares of DraftKings Inc. surged by 26.5 percent week-on-week, ending Friday’s trading at $53.49 apiece versus the $42.28 reported a week earlier as investors took heart from the company’s bullish outlook for the year, with the company raising its low-end revenue guidance.

In its latest earnings release, DraftKings Inc. said it now expects revenues for fiscal year 2025 to settle anywhere between $6.3 billion and $6.6 billion, as compared with the $6.2 billion to $6.6 billion targeted previously.

The new range would represent a 35-percent growth from actual revenues posted in 2024.

In the fourth quarter of the year, DraftKings Inc. widened its net loss by 200 percent to $134 million from $44.6 million registered in the same period last year, as revenues dropped by 13 percent to $1.39 billion from $1.23 billion.

Despite the decline, net losses in full year 2024 narrowed by 36.8 percent to $507 million from $802 million in 2023, as revenues grew 30 percent to $4.77 billion from $3.66 billion year-on-year.


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This article is originally published at Insider Monkey.