That’s understandable.įor investors who can’t afford to lose 100% of their investment, DKNG is not a wise investment. Now trading in the mid-$30s, I’m sure it’s much more challenging to pull the trigger on this falling knife. Ultimately, I suggested it was a good buy in the $40s. Instead of going to the movies and blowing $20 to $40 for two hours of entertainment, people take their interest in professional sports to the next level. I discussed how the younger generation has taken to sports betting as a form of entertainment.

I last wrote about DraftKings in October. So, even though the company’s loss projections are going up, many investment professionals who cover the stock remain bullish about its long-term prospects. The analyst consensus seems to come in two camps: Some believe it’s a buy – 18 out of the 29 covering DKNG rate it “buy” or “overweight” – while 10 rates it a “hold.” Only one has it at “underweight” or “sell.” If you bought today and the current analyst median target price comes to fruition by the end of 2022, investors are looking at almost 89% upside.

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