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MoffettNathanson Downgrades DraftKings: Are Prediction Markets Killing the Sports Betting King?
24/7 Wall St.103d agobearish
MoffettNathanson Downgrades DraftKings: Are Prediction Markets Killing the Sports Betting King?

DraftKings (NASDAQ:DKNG) got a downgrade from MoffettNathanson to Neutral from Buy on April 24, with a price target cut to $27 from $38. The firm acknowledged prediction market competition as the overhang it can no longer dismiss. For long-term investors, the downgrade reframes the DraftKings stock thesis around regulatory risk rather than valuation. DKNG shares ... MoffettNathanson Downgrades DraftKings: Are Prediction Markets Killing the Sports Betting King?