DraftKings shares hit three-year low as Flutter also declines
By The Weekly Edge desk · · Updated
Summary
DraftKings shares touched $18.55 on Thursday before closing at $19.35, Online Poker Report reported, marking their lowest level in more than three years. Flutter shares also declined. The report linked investor concerns to weaker quarterly earnings, promotional spending and competition from prediction markets.
Why it matters
DraftKings and Flutter share declines reflect investor concerns over weaker earnings, promotional spending and prediction market competition.