Draft Kings Bubble
Updated
IN MY OPINION
The coronavirus has sparked a lot of interest in people with (extra money) stimulus checks/unemployment and (extra time) unemployed. When things go back to "normal" and people go back to their regularly scheduled days they will forget about gambling with draft kings but not all of them. I think there will be a solid price range that it will hang around... Right now the most resistance I've seen is around 18.68 and 11.43 for support. Of course price action isn't the only thing to factor in what a company is worth..
I will be looking to short this once momentum slows down.
The coronavirus has sparked a lot of interest in people with (extra money) stimulus checks/unemployment and (extra time) unemployed. When things go back to "normal" and people go back to their regularly scheduled days they will forget about gambling with draft kings but not all of them. I think there will be a solid price range that it will hang around... Right now the most resistance I've seen is around 18.68 and 11.43 for support. Of course price action isn't the only thing to factor in what a company is worth..
I will be looking to short this once momentum slows down.
Note
Not in a trade yet. Lets stay updated. Come join me at this event on EVENTBRITE!eventbrite.com/e/investor-sentiment-event-online-tickets-102096232580
Note
Looking at the chart it seems there is a resistance level at 30.00 most likely because of several factors. It could be a mental thing since people like round numbers many investors thought there might be resistance there.I have seen a recent article showing that a lot of investors like how compared to most casinos DKNG does not have nearly as much debt BUT they have still failed to turn a profit so something that could happen especially since it has drastically grown in price is they could do an offering at this larger price in order to raise funds to get out of debt.
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