Overview
- Shares dropped 12.32% in October to a $30.59 close on Halloween, the lowest end-of-day price since August 2024.
- Investors reacted to soaring activity on event-betting platforms like Kalshi, viewing them as a competitive threat to traditional sportsbooks.
- Analysts flagged September’s bettor-favorable NFL results as a key drag on third-quarter margins and trimmed estimates.
- DraftKings is slated to report third-quarter results after Thursday’s close, a potential catalyst that could stabilize or deepen the stock’s slide.
- Management updates investors want include October football hold trends and any guidance on promotional discipline, which some expect the company could emphasize.