DraftKings Inc. (DKNG) Stock Plunged 18.18% Pre-Market, Here’s Why

DraftKings Inc. (DKNG) stock plummeted 18.18% in the pre-market trading session at the price of $18.05 after reporting its earnings report for the fourth quarter of 2021. DraftKings is a digital gaming and sports entertainment corporation. It was formed to fuel the energy of sports fans with products ranging across regulated gaming, daily fantasy, and digital media.

Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here.


DKNG Fourth Quarter 2021 Financial Results

On 18th February 2022, DKNG announced its earnings report for Q4 and full-year ended 31st December 2021. For the Q4 ended 31st December 2021, DKNG calculated total revenue of $473M. It represents a 47% surge from $322M during the same quarter of 2020. Average Revenue per MUP totaled $77 for the Q4 of 2021, representing a gain of 19% compared to the Q4 of last year. For the fiscal year 2022, DraftKings expects its revenue to range from $1.85B to $2.0B. The company anticipates its Adjusted EBITDA loss ranging from $825M to $925M.

Management Comments

Chief Executive Officer of DKNG, Jason Robins, commented that their strong Q4 performance had surpassed their expectations. The outstanding quarter capped off a year in which their five states were Contribution Profit positive. It further confirms the efficacy of their state playbook and supports the bright future of the industry’s TAM. DKNG is all set to bolster its multi-product suite of offerings, optimize its user experience, and further raise its market share.

Chief Financial Officer of DraftKings, Jason Park, added that they had increased revenue to $473M during the quarter. Their key performance indicators showed acquisition, cross-selling, and excellent player retention in the fourth quarter. They had raised their 2022 revenue guidance to $1.93 Billion given the strong performance trends.

DKNG Scheduled Virtual Investor Day

Earlier on 10th February 2022, DKNG has scheduled to host a virtual Investor Day on 3rd March 2022, Thursday, at 9:00 a.m. ET. The conference has expected to last for two hours. CEO and Chairman of the Board, Jason Robins, will present at the DraftKings virtual Investor Day. Registration for the event will be available at the DKNG’s Investor Relations website.


The Chart for Block Inc. (SQ) Stock Is Flashing Mixed Signals

In the first quarter, large investment funds expanded their...

What to Expect When Snap Inc. (SNAP) Reports Quarterly Earnings?

Snapchat, a social media platform owned by Snap Inc....

Getting Sustainable Earnings? Movado Group Inc. (MOV)

Movado Group Inc. (NYSE: MOV), the owner of the...

Future Prospects Brighter For Red Cat Holdings Inc. (RCAT) Stock

The US Army has awarded Red Cat Holdings, Inc....



Don't miss

Healthy Upside Potential: Maxar Technologies Ltd. (MAXR)

In May 25 trading, shares of space business Maxar...

Atkore Inc. (ATKR) stock: Better Than You Think

Atkore Inc. (NYSE:ATKR), a manufacturer of infrastructure, electrical, and...

Provention Bio, Inc. (PRVB) Having a Robust Premarket After Abysmal Thursday

Provention Bio, Inc. (PRVB), a clinical stage biopharmaceutical company,...

Farmmi, Inc. (FAMI) Stock Soaring in Premarket, Here’s the Reason

Farmmi, Inc. (FAMI), a company that processes and sells...

Ulta Beauty Inc. (ULTA) last month performance of -6.16% certainly makes it a sizzling prospect

Ulta Beauty Inc. (NASDAQ: ULTA) open the trading on May 26, 2022, with great promise as it jumped 7.09% to $377.96. During the day,...

The key reasons why Alset EHome International Inc. (AEI) is -95.54% away from 52-week high?

Witnessing the stock’s movement on the chart, on May 26, 2022, Alset EHome International Inc. (NASDAQ: AEI) set off with pace as it heaved...

StoneCo Ltd. (STNE) latest performance of 2.97% is not what was on cards

StoneCo Ltd. (NASDAQ: STNE) established initial surge of 2.97% at $9.71, as the Stock market unbolted on May 26, 2022. During the day, the...


Please enter your comment!
Please enter your name here