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Barchart
Barchart
Aditya Raghunath

How High Can DraftKings Stock Rise?

DraftKings DKNG United States Oppenheimer

It pays to invest in businesses that are well poised to benefit from rapidly expanding markets and secular growth trends. As companies part of megatrends have the opportunity to grow revenue and earnings at an enviable rate over time, it should also translate into handsome stock market returns. 

One such company is DraftKings (DKNG) which is an online sports betting platform, valued at a market cap of $24.6 billion. DKNG is trading 61% below all-time highs, set in March of 2021. Despite the pullback in share prices, at its current price, DraftKings has almost tripled investor returns since it was listed as a SPAC (special purpose acquisition company) in early 2020. 

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