DraftKings Q3 earnings: Stronger than expected guidance

DraftKings’ Q3 earnings results were strong, as was its guidance. Canaccord Genuity analyst Michael Graham said the company also guided for 2021 revenue that was significantly higher than expected. That higher-than-expected guidance was despite the lack of any new states.Q3 2020 hedge fund letters, conferences and morePositive setup for DraftKings after Q3 earningsGraham believes the DraftKings’ marketing spend is working well as it attracted 726,000 monthly unique payers to the platform during the third quarter. He also believes the company’s stock is well-positioned for the fourth quarter an…

Read More

HEDGE accordingly