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DraftKings (DKNG) reported earnings this morning, with at adjusted net loss of $0.57 per share, narrower compared with the Capital IQ consensus estimate of an adjusted net loss of $0.63. – MT Newswires
We wrote about DraftKings and Penn Gaming on November 4, prompting new entries at that time. News of multiple states approving sports betting.
Price action is trading at $46.34 in the early session (+12.24%) and showing no signs of slowing. We’ll take profits on (DKNG) options purchased prior to earnings and look to put those gains to work in shares, short-term.
MarketSmith charts show 50d at the pre-market highs this morning. Watch for rejection intially at this zone.
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Happy Trading,
Vinny
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