Technology

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.

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