DraftKings Faces Decline Before Q3 Earnings
DraftKings (NASDAQ:DKNG) experienced a significant stock decline ahead of its third-quarter earnings report, with its shares dropping nearly 20% in a month. The company's stock is approaching its 52-week low, trading near $28.11.
Billionaire Backers Suffer Losses
Ken Griffin of Citadel increased his stake in DraftKings during Q2, now holding 8.07 million shares valued at $346 million, averaging $38.53 per share. This results in a loss of about 25%. Similarly, Cliff Asness of AQR boosted his holdings by over 50%, owning 7.15 million shares worth $306 million at an average price of $36.30. Currently, both investors are deep in the red.
Market Expectations
- Wall Street anticipates a per-share loss of 40 cents.
- Revenue is expected to reach $1.23 billion.
Technical Analysis
The 50-day moving average ($38.63) has dropped below the 200-day ($39.60), forming a Death Cross, which indicates ongoing bearish momentum.
DraftKings' stock decline coincides with its technical death cross, signaling potential continued downtrend as investors await Q3 earnings.
Авторское резюме: Акции DraftKings резко падают перед отчетом о доходах, техническая картина указывает на возможное продолжение нисходящего тренда, что вызывает беспокойство у инвесторов.