DraftKings (DKNG) Stock

Some customers will be able to spend $20 each month to improve their chances on their parlay bets.

DraftKings is trying out a subscription service for some customers in New York to help deal with the state's high gaming taxes. Those who subscribe will receive improved odds on all successful parlay bets.

In the most recent trading session, DraftKings (DKNG) finished at $37.92, which is a decrease of 1.4% compared to the day before.

Lately, users of Zacks.com have been focusing on DraftKings (DKNG). This interest prompts a closer look at what the stock might offer.

Investors frequently rely on advice from Wall Street analysts when deciding whether to Buy, Sell, or Hold a stock. Although news about changes in ratings from these analysts can influence a stock's price, it's worth questioning how significant these changes really are.

DraftKings Inc. (NASDAQ: DKNG), a provider of digital sports betting and iGaming apps, has been rapidly growing throughout 2024, but it is still operating at a loss and has given a negative forecast for the year. The company, along with its rival FanDuel, which is owned by Flutter Entertainment plc (NYSE: FLUT), is under increased examination for potentially unfair business practices.

Similar to an exciting football match with many shifts in the lead, DraftKings (DKNG 2.41%) stock has given its investors a wild ride of feelings. Currently, the stock is 18% lower than its highest point in the past year, but it has still managed to maintain a strong 16% increase since the beginning of the year.

There are positive signs for 2025 and the future, such as the company's better financial performance and the chance to expand into more states for gambling and sports betting. Although DraftKings fell short of its revenue and earnings estimates for the third quarter of 2024 and gave disappointing guidance for the year, it did offer a strong revenue forecast of $6.2 billion to $6.6 billion for 2025. The company aims to enhance its betting strategy to boost profits and hold rates.

DraftKings (DKNG) is growing by entering new areas and attracting more customers.