After surging in value back in March, DraftKings (NYSE: DKNG) has had a difficult few months, and Hindenberg Research allegations haven’t helped matters.
One of the most widely discussed stocks of this week is online sports betting growth stock, DraftKings, after a group named Hindenberg research alleged that the company is ‘hiding its black market operations.’
However, many investors have been keen to point out that Hindenberg is nothing more than an opinion-driven group, as evidenced by the fact they are not accredited to provide financial advice and have recently taken out a large short position against DraftKings.
Moreover, Reddit investors, and WallStreetBets in particular, remain bullish on DKNG. So, with this in mind, this page covers the key things you need to know before you invest in DraftKings including the best places to buy DKNG stock.
Where to buy DraftKings stock online
We recommend signing up to a reliable stockbroker with low fees to buy DKNG shares, and to save you some time, we have listed two of the best options below:
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What is DraftKings?
Founded in 2012, DraftKings is an American daily fantasy sports contest and sports betting operator. Its revenue has grown rapidly and impressively in recent years, though it remains unprofitable.
Should I buy DraftKings shares?
If you believe in the long-term potential of DKNG and believe it can turn its ever-growing consumer base into a consistently profitable revenue stream, it could be the company for you.
DKNG has recently signed major deals with major franchises like the UFC and the NFL, and it has received hefty institutional support from groups like Cathie Wood’s Ark Invest.