DraftKings has been upgraded from neutral to bullish following robust customer growth of 73% year-over-year and an 8% reduction in customer acquisition cost in Q2. Despite missing revenue and margin targets, the company showed strong handle gains and rapid expansion in its Predictions segment. The key factor moving forward is expense discipline, as high sales and marketing costs could delay profitability. Risks remain from tax uncertainties, regulatory challenges in Predictions, and competitive pressures on margins and earnings per share.
DraftKings shares have fallen over 30% this year despite CEO Jason Robins' confidence in the core business, which is expected to generate about $1 billion in adjusted EBITDA by 2026. The stock currently trades around $23.87, but a bullish scenario pr...
Chime Financial announced it will acquire its long-time banking partner Stride for $590 million in cash, a deal expected to immediately increase Chime's earnings per share. The acquisition, valued at about 1.5 times Stride's tangible book value, will...
