DraftKingsNASDAQ: DKNG

DraftKings is a high-growth company with positive trends, making it a good long-term investment opportunity. The US online sports betting market is expected to grow at a 14% CAGR, creating an attractive industry for DraftKings and FanDuel. DraftKings is in a competitive position with FanDuel, showing potential for profitability and growth in the future.

DraftKings Inc. stock appears to be a pointless investment due to recent volatility, but sticking with the thesis may lead to rewards. DraftKings Inc. is projected to grow at a 37% CAGR in 2024, with revenue expected to exceed $5 billion, driven by strategic acquisitions and innovation. Despite a net debt of approximately $400 million, DraftKings is expected to generate $500 million in free cash flow by early 2025, with a price target of $65 per share by summer 2025.

DraftKings (DKNG) concluded the recent trading session at $37.67, signifying a -0.87% move from its prior day's close.

The growth stock sector has performed variably across different industries. Technology, healthcare and consumer discretionary sectors continue to offer opportunities.

DraftKings' NASDAQ: DKNG quality business and healthy outlook are why the recent stock price correction was a buy-the-dip opportunity. The market had cause to correct; Illinois raising taxes on gaming companies is not a positive for the margin, but other factors, including AI, offset it.

The latest trading day saw DraftKings (DKNG) settling at $43, representing a -0.58% change from its previous close.

Dublin, June 18, 2024 (GLOBE NEWSWIRE) -- The "Sponsorship Sector Report - Gambling & Betting Americas 2024" report has been added to ResearchAndMarkets.com's offering. This report provides an overview of the gambling and betting sector across the Americas region. It explores all the main active brands in the sector as well as details the movement in the sector over the last few years in the sports sponsorship industry. American Football dominates the spend in the gambling and betting sector across the Americas region. American Football's top deal in terms of annual value is the NFL's partnership with Caesars Entertainment, worth an estimated $40 million annually. Soccer dominated the volume of deals in the gambling and betting sector across the Americas region with 117 deals and ranks second in terms of annual value. Basketball ranks in the top 3 sports for both annual deal value and deal volume in the gambling and betting sector across the Americas region, with the sports top 4 deals in terms of annual value all being with the NBA. The top deal in the gambling and betting sector across the Americas region is UFC's deal with DraftKings. UFC's partnership with DraftKings is worth a reported $350 million across 5 years. The NFL ranks second, third, and fourth in terms of largest annual deal values, with partnerships with FanDuel, DraftKings, and Caesars Entertainment, all are worth $40 million annually. Gambling and betting brands have focused their spend across the Americas region with teams and federations, making up almost 75% of the total spend in the sector. American gambling and betting brands dominate the sports sponsorship spend across the Americas. Gambling and betting brands with headquarters in the Americas region acquired 383 deals, accumulating to over $1 billion in annual value. BetMGM are the most active gambling and betting brand in sports sponsorship across the Americas region with 33 deals; The brands top deal is MGM Resorts partnership with MLB. The top 4 most active gambling and betting brands across the Americas region, Bet MGM, DraftKings, FanDuel, and Caesars Entertainment are also the top 4 biggest spenders.

DraftKings (DKNG) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Leading sports betting company DraftKings Inc DKNG was sized up by an analyst in a new note with a look ahead at the impact of the acquisition of digital lottery company Jackpocket.