DraftKings (DKNG) Stock Is Well Set After NFT News

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The DKNG stock price fluctuated between $62.39 and $64.58 throughout the trading session with the volume trading being 13M shares, which represented a positive variation when compared to the three months average volume of 13M shares. The share price of DraftKings Inc. (NasdaqGS:DKNG) dipped -0.3% to close Wednesday’s market session at $63.39, lower as compared to yesterday’s close which brings the market valuation of the company to $25.57B.
The 52-week high for the DraftKings Inc.’s shares is $74.38. That puts it -14.78% from that peak but still a 49.46% gain since the share price dropped to a 52-week low of $34.90, while the S&P 500’s share price change was of 35.36%.

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 13M, while in the last 10 days the average was 11.76M and last three months – 12.78M.
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 31.97M shares being shorted which translates into 2.71 of a short ratio for DKNG, while in the previous month the shorted shares were 28.82M.

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DraftKings Inc.’s (NasdaqGS:DKNG) financials

With a market cap of 25.57B, DraftKings Inc. holds a total cash of $2.65B that translates into $6.56 per share, while the total debt is of $1.32B. The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 319.60%. The current revenue is of $1.06B that is $2.76 per share.


This is a great sign for a bright future.