Keep an eye on DraftKings (DKNG).
The stock just broke from consolidation to the upside, as excitement builds for sports betting. Analysts at the Benchmark Company also raised their price target on DKNG to $66 from $60.
“DKNG is expected to release F4Q20 results on Friday, Feb. 26th. We anticipate DKNG will deliver strong performance and raise its financial outlook. The online sports betting and online casino markets have demonstrated remarkable growth. Regulatory momentum has been extremely encouraging and we anticipate revenue step up catalysts from ongoing state legalization. DKNG should extend market share leadership from brand awareness and player acquisition investments,” they noted.
Even better, we just learned that ARK Next Generation Internet bought 630,000 shares recently. Plus, online sports betting is only starting to gain momentum, and acceptance with more states moving to legalize it.