DraftKings Inc. (DKNG) Is Expected to Go Below the Revenue Estimates

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The DKNG stock price fluctuated between $48.5 and $49.87 throughout the trading session with the volume trading being 6M shares, which represented a negative variation when compared to the three months average volume of 16M shares.

The share price of DraftKings Inc. (NasdaqGS:DKNG) ran up 1.03% to close Monday’s market session at $49, higher as compared to yesterday’s close which brings the market valuation of the company to $19.68B.

The 52-week high for the DraftKings Inc.’s shares is $74.38. That puts it -34.12% from that peak but still a 47.19% gain since the share price dropped to a 52-week low of $30.51, while the S&P 500’s share price change was of 33.41%.

What does the trading volume tell us about the DKNG stock?

During the last trading session, DraftKings Inc. (NasdaqGS:DKNG) has seen decay in its daily volume. The daily volume was of 16M, while in the last 10 days the average was 7.75M and last three months – 15.57M.

The decreasing interest in the DKNG stock from the investors is helping to drive the stock price down.

Growing short interest

The DraftKings Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 28.82M shares being shorted which translates into 1.96 of a short ratio for DKNG, while in the previous month the shorted shares were 28.09M.

DraftKings Inc.’s (NasdaqGS:DKNG) financials

With a market cap of 19.68B, DraftKings Inc. holds a total cash of $2.82B that translates into $7.03 per share, while the total debt is of $1.33B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 252.70%. The current revenue is of $838.27M that is $2.34 per share.

This is a great sign for a bright future.