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MarketBeat

Jea Yu

5 Reasons DraftKings Stock Looks Promising in the New Year

DraftKings DKNG Jackpocket IGaming

Digital sports betting and iGaming app provider DraftKings Inc. (NASDAQ: DKNG) has been in hypergrowth mode through 2024 but continues to lose money and even issued downside guidance for 2024. The company, along with competitor FanDuel, owned by Flutter Entertainment plc (NYSE: FLUT), faces further scrutiny over anticompetitive practices. United States Senators Peter Welch and Mike Lee want the U.S. Federal Trade Commission (FTC) to investigate as they purport the two computer and technology sector companies control nearly a 90% market share of the online betting market in the United States.

This has caused shares to sell off for seven straight sessions to its daily anchored VWAP support level at $39.56. Here are five reasons for bullish investors who have been waiting for a pullback to bet on DraftKings in 2025.

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