U.S. Markets close in 6 hrs 19 mins
  • S&P 500

    3,940.99
    +40.88 (+1.05%)
     
  • Dow 30

    31,821.56
    +383.30 (+1.22%)
     
  • Nasdaq

    11,628.59
    +104.04 (+0.90%)
     
  • Russell 2000

    1,771.74
    +6.00 (+0.34%)
     
  • Crude Oil

    110.59
    +1.02 (+0.93%)
     
  • Gold

    1,825.60
    +0.80 (+0.04%)
     
  • Silver

    21.15
    -0.02 (-0.09%)
     
  • EUR/USD

    1.0533
    -0.0054 (-0.5056%)
     
  • 10-Yr Bond

    3.2090
    +0.0150 (+0.47%)
     
  • Vix

    26.89
    -0.34 (-1.25%)
     
  • GBP/USD

    1.2216
    -0.0054 (-0.4386%)
     
  • USD/JPY

    136.2570
    +0.8110 (+0.5988%)
     
  • BTC-USD

    21,058.78
    -14.80 (-0.07%)
     
  • CMC Crypto 200

    460.56
    +10.50 (+2.33%)
     
  • FTSE 100

    7,332.07
    +73.75 (+1.02%)
     
  • Nikkei 225

    27,049.47
    +178.17 (+0.66%)
     

DraftKings CEO: ‘We’re seeing zero impact due to inflation'

DraftKings CEO Jason Robins discusses why inflation has had zero impact on DraftKings’ performance and why historically gaming stocks have been unaffected by recession.

Video Transcript

JASON ROBINS: We're seeing absolutely zero impact to our customer cohorts due to any sort of inflationary pressures or otherwise any other macroeconomic factors. Not only are we seen that, that's historically always been the case with gaming. Gaming has generally been very well performing during economic downturns, recessions, inflationary periods, and the like. So this is not a new thing. This is something that's been well known about the industry for quite some time. And we're certainly seeing the same thing materialize in our numbers.

And I think as a result, once people sort of do the research and figure that out, I think we're going to be seen as an attractive stock to own in an inflationary period. But I think once, you know, the market's kind of digested all that and people start looking at what stocks do I think and what companies do I think will perform well during inflationary periods, I believe that we will be on that list because facts support and our data supports that we're going to do very well during an economic period of inflation or a recession.