Here's Why DraftKings (DKNG) Slumped 6.5% on Monday

Shares of DraftKings DKNG fell 6.5% in Monday trading and the reason looks to be a postponed MLB game.

The Miami Marlins have postponed their home opener against the Baltimore Orioles after eight more players and two coaches with the Marlins tested positive for Covid-19. An outbreak has recently spread through the team, and there are now at least 14 cases, according to ESPN.

DraftKings launched in 2012 and IPO’d this past April after merging with Diamond Eagle, a special-purpose acquisition company. DKNG has about doubled from its IPO price of $17 per share.

Zacks Top 10 Stocks for 2020

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?

Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2020 today >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DraftKings Inc. (DKNG): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.