DraftKings, Inc. Class A (DKNG)

DraftKings' stock price has experienced fluctuations over the past six months. As of November 24, 2025, the share price was $29.44, a decline from $43.00 on November 25, 2024. The stock decreased by 2.68% in the past month and 32.68% over the past three months. Key events impacting the stock include customer-friendly sports outcomes leading to negative adjusted EBITDA, concerns surrounding prediction markets, analyst rating adjustments following the Q3 2025 earnings report, and slowing growth metrics.

Demand for DraftKings' products and services exhibits seasonality, largely driven by the sports calendar. Major sporting events and seasons significantly impact user engagement and betting volumes. Thanksgiving football games are one of the busiest betting periods of the year. Events like the NFL season, Super Bowl, and March Madness can lead to significant swings in betting volume. Sports with longer seasons tend to show less acute seasonality. Certain months like January, February, June, July, and August have shown positive average stock performance, while March, September, and October have shown negative average performance.

DraftKings Inc. is a digital sports entertainment and gaming company based in Boston, Massachusetts, operating in the Consumer Cyclical sector. It offers daily fantasy sports (DFS), online sportsbook, iGaming, and digital lottery courier services through its acquisition of Jackpocket. The company operates DraftKings Network, a multi-platform content ecosystem, and is vertically integrated with proprietary technology. DraftKings partners with major sports leagues such as the NFL, MLB, NBA, PGA TOUR, NHL, WNBA, and UFC.

DraftKings' primary geographic focus is the United States, accounting for approximately 97.51% of its total revenue in fiscal year 2024. Its Sportsbook operates in 28 states, and its iGaming products are available in five states under the DraftKings brand and four states under the Golden Nugget Online Gaming brand. Its daily fantasy sports product is available in six countries internationally. DraftKings has expanded its mobile sportsbook into Missouri and introduced a Spanish-language experience within its Sportsbook & Casino app for U.S. and Ontario customers.

DraftKings maintains a prominent brand presence through its extensive suite of products and partnerships with major sports leagues. Events affecting its reputation in the past year include the acquisition of Jackpocket, new exclusive marketing agreements with ESPN and NBCUniversal, and expansion into new markets and language support. The regulatory and tax environment for online betting remains a significant risk, and disappointing Q3 2025 results due to customer-friendly sports outcomes and sluggish growth could negatively impact investor sentiment. The emergence of prediction markets has created concerns, though a recent legal ruling in Nevada favored traditional sports betting operators like DraftKings.

DraftKings Inc. is heavily dominated by institutional owners, holding approximately 85% of the shares. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Fmr Llc, Wellington Management Group Llp, T. Rowe Price Investment Management, Inc., Janus Henderson Group Plc, Viking Global Investors Lp, and Aqr Capital Management Llc. John S. Salter is the largest individual DraftKings shareholder, owning 27.98 million shares, representing 5.62% of the company. Insiders have been net sellers in the past 90 days, selling approximately 219,529 shares.