DraftKings (DKNG) is starting to push higher, as hoped.
As we noted on Sept. 6, gambling stocks, like DKNG would be bid higher. All thanks to the 2023 NFL season, and a very bullish CEO.
In fact, as noted by DKNG CEO Jason Robins, “It’s about to be the most important time of year seasonally for us. We have fall coming up with the NFL, the college football calendar, and the NBA. This is when we acquire the most customers when we have the biggest opportunity to gain more market share, and when we generate the most revenue and the most EBITDA.”
So far, we’ve watched DKNG run from about $30 to $31.43. But this is just the start of a bigger run, we believe. Remember, more than 73 million Americans plan to bet on the 2023 NFL season – a 60% increase year over year, according to the American Gaming Association.
DKNG last traded at $31.32 – up about $1.25 on the day. From its current price, we’d like to see it again challenge $34 again shortly.