Draftkings Stock News

Shares of Boston-based DraftKings Inc. tumbled on Friday as the online sports betting operator reported top line growth as well as widening costs.

Draftkings Inc. (NASDAQ: DKNG ) shares are trading down Friday after the company reported the fourth-quarter fiscal year 2021 sales growth of 47% year-on-year to $473.3 million, beating the analyst consensus of $445.18 million. The stock has recently fallen below a support level and is seeing a period of uncertainty. Draftkings was down 18.09% at $18.07 at publication time Friday afternoon. See Also: Why DraftKings Shares Are Plummeting Today Premarket Draftkings Daily Chart Analysis The stock is falling below support in the channel after it crossed below the $19 level. This shows the stock is seeing bearish … Full story available on Benzinga.com

The sportsbook operator is incurring heavy losses as it scales its business.

DKNG earnings call for the period ending December 31, 2021.

The Super Bowl was a bonanza for the gambling business thanks to new customers from New York, which recently legalized sports betting. But now comes the hard part for companies like DraftKings and FanDuel.

"In the meantime, we''ve just got to keep doing our thing and hopefully the market will catch on," CEO Jason Robins told CNBC on Friday.

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DraftKings (NASDAQ: DKNG) reports $473 million in revenue in the fourth quarter, more than the $445.3 million consensus estimate for the quarter. In addition, DraftKings expects full-year revenue of

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"In the meantime, we've just got to keep doing our thing and hopefully the market will catch on," CEO Jason Robins told CNBC on Friday.

DraftKings Inc. (DKNG) CEO Jason Robins on Q4 2021 Results - Earnings Call Transcript

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DraftKings reported an adjusted EBITDA loss for 2022 that was much higher than analysts had anticipated.