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Benzinga
Benzinga
Business
Adam Eckert

DraftKings Stock Falls To 52-Week Low: What's Going On?

DraftKings Inc (NASDAQ:DKNG) shares closed Thursday down more than 7% at new 52-week lows. The stock fell alongside several names in the hotels, restaurants and leisure sector amid overall market weakness following U.S. Fed chair Jay Powell's hawkish rate hike commentary.

The Federal Reserve needs to move faster than it has in the past to tame high inflation, Powell said Thursday in an International Monetary Fund debate.

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