Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate DraftKings Inc before investing.

In this article, we go over a few key elements for understanding DraftKings Inc’s stock price such as:

• DraftKings Inc’s current stock price and volume
• Why DraftKings Inc’s stock price changed recently
• Upgrades and downgrades for DKNG from analysts
• DKNG’s stock price momentum as measured by its relative strength

About DraftKings Inc (DKNG)

Before we jump into DraftKings Inc’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

DraftKings Inc. is a digital sports entertainment and gaming company. The Company provides users with online sports betting (Sportsbook), online casino (iGaming) and daily fantasy sports (DFS) product offerings, as well as retail sportsbook, media and other consumer product offerings. The Company is also involved in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators. The Company’s Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 27 states and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in three states under its Golden Nugget Online Gaming brand. It owns Jackpocket, the digital lottery app in the United States. Its daily fantasy sports product is available in 44 states, certain Canadian provinces, and the United Kingdom.

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DraftKings Inc’s Stock Price as of Market Close

As of August 02, 2024, 4:00 PM, CST, DraftKings Inc’s stock price was $32.02.

DraftKings Inc is down 9.78% from its previous closing price of $35.49.

During the last market session, DraftKings Inc’s stock traded between $35.36 and $37.79. Currently, there are 474.23 million shares of DraftKings Inc stock available for purchase.

Unfortunately, DraftKings Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

DraftKings Inc Stock Price History

DraftKings Inc’s (DKNG) price is currently down 13.34% so far this month.

During the month of August, DraftKings Inc’s stock price has reached a high of $37.79 and a low of $30.94.

Over the last year, DraftKings Inc has hit prices as high as $49.57 and as low as $25.41. Year to date, DraftKings Inc’s stock is up 181.12%.

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What Caused DraftKings Inc Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of August 01, 2024, there were 12 analysts who downgraded DraftKings Inc’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate DraftKings Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on DraftKings Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

DraftKings Inc’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about DraftKings Inc (DKNG) by visiting AAII Stock Evaluator.

Relative Price Strength of DraftKings Inc

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of August 01, 2024, DraftKings Inc has a weighted four-quarter relative price strength of -4.00%, which translates to a Momentum Score of 49 and is considered to be Average.

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DraftKings Inc Stock Price: Bottom Line

As of August 2, 2024, DraftKings Inc’s stock price is $32.02, which is down 9.78% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like DraftKings Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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