DraftKings (DKNG) stock has taken a beating over the last year and has had a horrible start to 2026 so far. However, investors recently received some good news after a U.S. Securities and Exchange Commission (SEC) filing revealed that one of the company’s directors had purchased stock worth $2.19 million. The director in question, Harry Evans Sloan, bought 100,000 shares of DKNG stock at an average price of $21.85 per share on Feb. 17. His stake in the company is now 350,219 shares after the recent transaction.
This transaction is significant in the context of the current share price. DraftKings is trading near its 52-week lows, but that’s not all. DKNG stock has lost 50% of its value in the last six months and is down 31% so far this year. If ever investors needed some reassurance regarding the company’s prospects, Sloan just provided it. Having said that, management will need to do more to reassure investors about DraftKing's dismal 2026 outlook and slowing growth.
