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Dkng Gaming up 9% today
Posted on 8/2/22 at 8:18 pm
Posted on 8/2/22 at 8:18 pm
Earnings report comes out Friday.
California to vote on legalizing gaming in November.
Recessions rarely affect gambling revenue.
Price target $19
Earnings have been affected heavily by advertising.
They are expected to reach profitability next year.
Thoughts on this ?
California to vote on legalizing gaming in November.
Recessions rarely affect gambling revenue.
Price target $19
Earnings have been affected heavily by advertising.
They are expected to reach profitability next year.
Thoughts on this ?
2
Posted on 8/2/22 at 8:53 pm to Guntoter1
Got calls yesterday and they have done well.
NCAA tourney and nba playoff, plus hockey. Should be decent gambling
NCAA tourney and nba playoff, plus hockey. Should be decent gambling
Posted on 8/2/22 at 9:27 pm to jimjackandjose
quote:
NCAA tourney and nba playoff, plus hockey. Should be decent gambling
Revenue should increase, as it's been doing consistently with DKNG. That's not the issue. The issue is costs/expenses to grow, particularly advertising expenses in new markets, is significantly outweighing revenue growth at this stage in their company development. In this macro-environment, that is not gaining a lot of traction.
DKNG will do well long term, but the short term macro-related headwinds will continue to undermine the stock price (similar to many other early stage hyper-growth companies in industry XYZ).
There is a lot of potential here. I have a very sizeable chunk of my 'play' money invested in DKNG. Generally I'll just say over $5K but less than $25K. My average cost per share is $17.7. It was in the high 20's before Febuary... I've been slowly buying every dip since then.
I'm a long term believer but before the stock goes back over $20 again they'll need to show consistent increases in profit (not just revenue). That may not be possible for a couple more years.
Posted on 8/2/22 at 9:37 pm to skewbs
quote:
before the stock goes back over $20 again they'll need to show consistent increases in profit (not just revenue). That may not be possible for a couple more years.
Seems like I read a couple months ago that they have started to back off of the advertising. I’m thinking this quarter may be better than expected.
Also I think the current economics of the country are priced into the next earnings but will actually not affect the revenue as expected.
I’m betting on a beat for Friday.
Posted on 8/3/22 at 7:46 am to Guntoter1
quote:
Recessions rarely affect gambling revenue.
Do you have data that supports this?
I am not saying you are wrong and in fact find it quite interesting if this is accurate.
Posted on 8/3/22 at 10:41 am to Guntoter1
quote:
Seems like I read a couple months ago that they have started to back off of the advertising. I’m thinking this quarter may be better than expected.
I haven't seen an odds boost in a couple weeks granted that would affect the next quarters results. Last quarter they definitely had them almost every day.
Posted on 8/4/22 at 2:19 pm to hiltacular
When cali approves this in november, revenue could eventually double.
This post was edited on 8/4/22 at 3:28 pm
Posted on 8/4/22 at 5:04 pm to bod312
Does Tony Soprano count?
quote:
And I don't want to hear about the freaking economy either! What two businesses have traditionally been recession proof since time immemorial?
Certain aspects of show business...and our thing.
Posted on 8/4/22 at 9:59 pm to bod312
quote:
Do you have data that supports this? I am not saying you are wrong and in fact find it quite interesting if this is accurate.
Data, no.
Only propaganda from Draft King.
DraftKings reported strong demand across segments and said it is not seeing any inflationary pressures reflected in customer behavior.
Posted on 8/4/22 at 10:40 pm to Guntoter1
Tomorrow will be interesting. I doubt we see a pop (this entire week has been a major upswing considering the last 3 months)… but I sure would like to see one.
Posted on 8/4/22 at 11:08 pm to skewbs
quote:
Tomorrow will be interesting. I doubt we see a pop (this entire week has been a major upswing considering the last 3 months)… but I sure would like to see one.
I would usually agree with you but I think we may get one. Today we were down. Tomorrow we could run.
Posted on 8/5/22 at 6:42 am to skewbs
Up big pre market
Posted on 8/5/22 at 7:27 am to Guntoter1
Got in at $16.35 yesterday. Let’s see if it keeps running or if it dies off a quick death after markets open
Posted on 8/5/22 at 8:38 am to Im4datigers
quote:
Let’s see if it keeps running
This post was edited on 8/5/22 at 8:39 am
Posted on 8/5/22 at 9:00 am to skewbs
“Customer engagement remains strong, and we continue to see no perceivable impact from broader macroeconomic pressures,” said CEO Jason Robins.
Posted on 8/5/22 at 9:05 am to Guntoter1
in at $16.30, accidentally sold at $18.65, but jumped right back in at $18.80.
Nice 15% gain in one day though. Glad I'm on the right side of the swing for once.
Nice 15% gain in one day though. Glad I'm on the right side of the swing for once.
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