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DraftKings Inc. (DKNG) Dips More Than Broader Markets: What You Should Know
DraftKings Inc. (DKNG - Free Report) closed at $32.81 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 1.39%, and the tech-heavy Nasdaq gained 0.53%.
Wall Street will be looking for positivity from DKNG as it approaches its next earnings report date.
Investors might also notice recent changes to analyst estimates for DKNG. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. DKNG is currently sporting a Zacks Rank of #4 (Sell).
The Unclassified industry is part of the Unclassified sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.