DraftKingsNASDAQ: DKNG

DraftKings' 85% advance from its 2022 low point still doesn't fully factor the company's potential.

Who knew betting on the NFL would cost DraftKings (DKNG) $250 million? On this week's episode of Yahoo Finance Sports Report, host Joe Pompliano takes a look at the sports betting giant and breaks down why it took a financial hit at the expense of bettors taking massive wins.

According to @LikeFolio's Andy Swan, sports betting trades are a double-edged sword. For one, he expects legalization in several states to serve as a tailwind.

The mobile gaming company saw its customers winning more than usual in the recently completed quarter.

DraftKings stock price has rallied for seven consecutive days, reaching its highest level since June 20 after publishing better earnings than expected. DKNG shares jumped to a high of $43, up by over 50% from its lowest level in August.

Recently, Zacks.com users have been paying close attention to DraftKings (DKNG). This makes it worthwhile to examine what the stock has in store.

DraftKings' NASDAQ: DKNG share price struggles to advance in 2024, but the signs are clear that there is support for this stock. The technical action shows sustained support in the low end of a trading range, a strengthening base of support that will help propel the stock higher over the next year.

The company experienced “the most customer-friendly stretch of NFL sport outcomes we have ever seen,” its CEO said.

Shares of DraftKings slid after reporting Q3 results, primarily because the company lowered its full-year revenue and adjusted EBITDA targets. The company blamed unfavorable NFL outcomes so far QTD in Q4 as the reason for the drop. In Q2, the company made a similar statement about MLB outcomes. The company is still retaining its expectations of $0.9-$1.0 billion in adjusted EBITDA in FY25, which represents nearly quadrupling profits - an unreasonable expectation.