Professional
Added to YB: 2025-10-07
Pitch date: 2025-10-03
DKNG [bearish]
DraftKings Inc.
+0.95%
current return
Author Info
Spruce Point Capital Management is an activist investment manager specializing in forensic short-selling. Sign up for the newsletter.
Company Info
DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally.
Market Cap
$14.7B
Pitch Price
$35.86
Price Target
14.00 (-61%)
Dividend
N/A
EV/EBITDA
-759.45
P/E
-54.57
EV/Sales
2.82
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Spruce Point Capital Management Issues 'Strong Sell' Research Opinion On DraftKings Inc. (Nasdaq: DKNG)
DKNG: Spruce Point sees 35%-60% downside ($14-$22 price target) as Kalshi prediction markets capture 30% NFL/79% NCAA football handle vs traditional sportsbooks. Better 1.5% fee structure vs DKNG's 6-8% hold rate driving market share loss. Litigation timeline extends to 2027 SCOTUS decision.
Read full article (17 min)