Sports betting company DraftKings upped its bid for British gaming giant Entain to around $22.4 billion.
DraftKings’ initial proposal was £25 per share for Entain; but that was quickly rejected, and it raised its bid to £28 per share -- a level that is more than double the $11 billion approach from MGM, Entain's U.S. joint-venture partner, earlier this year.
MGM said it's the "exclusive partner in the U.S. online sports betting and iGaming market", through its BetMGM joint-venture. The company mentioned that "any transaction whereby Entain or its affiliates would own a competing business in the U.S. would require MGM's consent."
"MGM will engage with Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements which meets all parties' objectives," the company’s statement mentioned
DKNG's Aroon Indicator triggered a bullish signal on December 03, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 291 similar instances where the Aroon Indicator showed a similar pattern. In of the 291 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on November 26, 2024. You may want to consider a long position or call options on DKNG as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for DKNG just turned positive on November 06, 2024. Looking at past instances where DKNG's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
DKNG moved above its 50-day moving average on November 06, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for DKNG crossed bullishly above the 50-day moving average on November 12, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DKNG advanced for three days, in of 309 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 10-day RSI Indicator for DKNG moved out of overbought territory on November 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator moved out of overbought territory. In of the 46 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 17 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DKNG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
DKNG broke above its upper Bollinger Band on November 07, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. DKNG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock slightly better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (25.445) is normal, around the industry mean (12.602). P/E Ratio (0.000) is within average values for comparable stocks, (65.598). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (1.549). Dividend Yield (0.000) settles around the average of (0.043) among similar stocks. P/S Ratio (5.672) is also within normal values, averaging (3.509).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a digital sports entertainment and gaming company, which provides online and retail sports wagering offerings, online daily fantasy contests and online casino games
Industry CasinosGaming