We recently published 10 Stocks Jim Cramer Mentioned As He Talked About “Love Lost” Between Microsoft & OpenAI. DraftKings Inc. (NASDAQ:DKNG) is one of the stocks Jim Cramer recently discussed.
DraftKings Inc. (NASDAQ:DKNG) is a technology company that primarily provides sports betting services. Its shares have gained 19.5% year-to-date as the firm has benefited from multiple strong quarterly earnings reports and strong annual guidance figures. For instance, DraftKings Inc. (NASDAQ:DKNG)’s jumped in February after the firm increased the low end of its full year guidance to $6.3 billion from an earlier $6.2 billion. In August, the firm reported that its revenue grew by 37% to $1.51 billion. Cramer believes that DraftKings Inc. (NASDAQ:DKNG) will benefit from the football season:
“And then Jason Robins, DraftKings, I mean coming into the football season, coming in hot as opposed to, no I came in cool, I’m sorry.”
He discussed DraftKings Inc. (NASDAQ:DKNG) in detail later during the day in Mad Money:
“As we approach football season, things are already looking pretty darn good for DraftKings, one of the nation’s largest online sportsbooks. I’ve been steadfastly bull on this one, you know, just the whole way. After the close, DraftKings reported an impressive quarter, revenue growth accelerating to 37%, better-than-expected earnings, higher-than-expected earnings before interest, taxes, depreciation, and amortization. These results were driven by what DraftKings calls sportsbook-friendly outcomes in the quarter, and the company only reiterated its full-year forecast. But management did say that it now expects to see revenue near the high end of its guidance range. That was good enough to send the stock flying in after-hours trading.”
While we acknowledge the potential of DKNG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
