Super bowl draftkings stock12/22/2023 ![]() ![]() ![]() states covering about 100 million people have legalized sports betting, leaving plenty of room to grow. Sports betting has now eclipsed $1 billion in the Empire State.Īnd that’s just one state, albeit a big one. New York State residents placed $603 million worth of bets in less than two full weeks of legalized gambling, including $134 million placed with DraftKings, according to data from the New York State Gaming Commission. Specifically, Morgan Stanley said “we believe at the current price ($19 per share), one should not ignore that DKNG is a leading market share player in what will be a very large profitable market.” Morgan Stanley’s late January upgrade arrived just as New York State legalized sports gambling, underscoring just how big the market that Draftkings operates in could become. Draftkings stock jumped 18% following the bullish report from Morgan Stanley, which the investment bank labeled “Too Big an Opportunity to Ignore.” and other countries such as neighboring Canada. In its assessment, Morgan Stanley said that Draftkings is well-positioned to capitalize on the growth of sports betting and legalization of online gambling in the U.S. DKNG shares recently bounced off their 52-week low of $17.42 after investment bank Morgan Stanley (NYSE: MS) upgraded the stock to “overweight” from “equal weight” previously and maintained a $31 price target. ![]()
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