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7 Sports Betting Stocks That Will Shine Beyond March Madness in 2021 - 1 of 7

#1 - DraftKings (NASDAQ:DKNG)

DraftKings logo

DraftKings (NASDAQ:DKNG) is a logical choice to head this list. The company cites over 4 million users on its daily fantasy sports platform. And a big reason for that is because DraftKings is the official daily fantasy partner of the National Football League (NFL).

Those four million users will go a long way to helping DraftKings meet its forecast to claim over 10% of the total addressable market for online sports betting and iGaming.

Analysts are increasing their price targets for DraftKings. And the stock also has the interest of Cathie Wood, the CEO and Chief Investment Officer of ARK Investment Management who purchased over $433 million of DKNG stock.

 DKNG stock is up over 50% in 2021. This is despite the stock having a sharp selloff on March 16 when the company announced a $1 billion issue of convertible notes. Investors were first concerned about the dilutive effect that such things can produce. But it seems as investors have digested the information, they realize that the company may be raising cash in advance of an acquisition of some sort.

About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design, development, and licensing of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. Read More 

Current Price: $42.11
Consensus Rating: Buy
Ratings Breakdown: 22 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $68.09 (61.7% Upside)

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