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DraftKings Inc is a gambling business with stocks listed in the US. DraftKings shares (DKNG) are listed on the NASDAQ and all prices are listed in US Dollars. Its last market close was US$43 – a decrease of 3.02% over the previous week.
How to buy shares in DraftKings
- Compare share trading platforms. To buy shares in a US company from Australia you'll need to find a trading platform that offers access to US stock markets. If you're just starting out, look for a platform with low brokerage and foreign exchange fees.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, credit card or debit card.
- Search for DraftKings. Find the share by name or ticker symbol: DKNG. Research its history to confirm it's a solid investment against your financial goals.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until DraftKings reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. At last close price of US$43, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of DraftKings, depending on your broker.
- Check in on your investment. Congratulations, you own a part of DraftKings. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
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How has coronavirus impacted DraftKings's share price?
Since the stock market crash in March caused by coronavirus, DraftKings's share price has had significant positive movement.
Its last market close was US$43, which is 60.58% up on its pre-crash value of US$16.95 and 305.66% up on the lowest point reached during the March crash when the shares fell as low as US$10.6.
If you had bought US$1,000 worth of DraftKings shares at the start of February 2020, those shares would have been worth US$778.80 at the bottom of the March crash, and if you held on to them, then as of the last market close they'd be worth US$2,963.56.
DraftKings share priceUse our graph to track the performance of DKNG stocks over time.
DraftKings shares at a glance
|Latest market close||USD$43|
|52-week range||USD$9.85 - USD$64.19|
|50-day moving average||USD$49.0134|
|200-day moving average||USD$35.1895|
|Dividend yield||N/A (0%)|
|Earnings per share (TTM)||USD$0.0462|
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Is it a good time to buy DraftKings stock?
The technical analysis gauge below displays real-time ratings for the timeframes you select. This is not a recommendation, however. It represents a technical analysis based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
DraftKings price performance over time
|1 week (2020-10-16)||-3.02%|
|1 month (2020-09-24)||-14.97%|
|3 months (2020-07-24)||14.51%|
|6 months (2020-04-24)||122.22%|
|1 year (2019-10-22)||335.66%|
|2 years (2018-10-20)||N/A|
|3 years (2017-10-20)||N/A|
|5 years (2015-10-20)||N/A|
Is DraftKings under- or over-valued?
Valuing DraftKings stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of DraftKings's overall performance. However, analysts commonly use some key metrics to help gauge the value of a stock.
DraftKings's P/E ratio
DraftKings's current share price divided by its per-share earnings (EPS) over a 12-month period gives a "trailing price/earnings ratio" of roughly 395x. In other words, DraftKings shares trade at around 395x recent earnings.
That's relatively high compared to, say, the trailing 12-month P/E ratio for the NASDAQ 100 at the end of 2019 (27.29). The high P/E ratio could mean that investors are optimistic about the outlook for the shares or simply that they're over-valued.
|Revenue TTM||US$357.4 million|
|Gross profit TTM||US$219.5 million|
|Return on assets TTM||-29.07%|
|Return on equity TTM||-1078.46%|
|Market capitalisation||US$15.1 billion|
TTM: trailing 12 months
Shorting DraftKings shares
There are currently 20.8 million DraftKings shares held short by investors – that's known as DraftKings's "short interest". This figure is 13.4% up from 18.4 million last month.
There are a few different ways that this level of interest in shorting DraftKings shares can be evaluated.
DraftKings's "short interest ratio" (SIR)
DraftKings's "short interest ratio" (SIR) is the quantity of DraftKings shares currently shorted divided by the average quantity of DraftKings shares traded daily (recently around 26.4 million). DraftKings's SIR currently stands at 0.79. In other words for every 100,000 DraftKings shares traded daily on the market, roughly 790 shares are currently held short.
However DraftKings's short interest can also be evaluated against the total number of DraftKings shares, or, against the total number of tradable DraftKings shares (the shares that aren't held by "insiders" or major long-term shareholders – also known as the "float"). In this case DraftKings's short interest could be expressed as 0.06% of the outstanding shares (for every 100,000 DraftKings shares in existence, roughly 60 shares are currently held short) or 0.0584% of the tradable shares (for every 100,000 tradable DraftKings shares, roughly 58 shares are currently held short).
Such a low SIR usually points to an optimistic outlook for the share price, with fewer people currently willing to bet against DraftKings.
Find out more about how you can short DraftKings stock.
DraftKings share dividends
We're not expecting DraftKings to pay a dividend over the next 12 months.
DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. The company distributes its product offerings through various channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. DraftKings Inc. is headquartered in Boston, Massachusetts.
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