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DraftKings (DKNG) Stock Moves -1.42%: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, DraftKings (DKNG) closed at $38.15, marking a -1.42% move from the previous day. This move was narrower than the S&P 500's daily loss of 3.53%. Elsewhere, the Dow lost 3.44%, while the tech-heavy Nasdaq lost 3.73%.

DKNG will be looking to display strength as it nears its next earnings release, which is expected to be November 13, 2020.

Investors should also note any recent changes to analyst estimates for DKNG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 34.61% lower. DKNG is holding a Zacks Rank of #4 (Sell) right now.

The Unclassified industry is part of the Unclassified sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow DKNG in the coming trading sessions, be sure to utilize Zacks.com.


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