DraftKings (DKNG, $60.13) to acquire Vegas Sports Information Network
On Tuesday, online sports-betting company DraftKings announced that it would acquire Vegas Sports Information Network. The latter is a sports-betting-content provider. The acquisition is expected to boost DraftKings’ content capabilities and will expand VSIN’s audience reach, as indicated by DraftKings.
VSiN operates out of Las Vegas, and it develops, produces, and distributes up to 18+ hours of live linear sports betting content each day. VSiN’s original content is also available on several video and audio channels including Comcast Xfinity, Sling TV, fuboTV, Rogers’ Sportsnet, MSG Networks, NESN, AT&T Pittsburgh, Marquee Sports Network, a channel on iHeartRadio and TuneIn, as well as terrestrial radio stations, and its many podcasts and betcasts.
Terms of the acquisition deal are not known yet.
DKNG in upward trend: price may jump up because it broke its lower Bollinger Band on May 11, 2022
DKNG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 13 of 15 cases where DKNG's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 87%.
Current price $14.24 crossed the support line at $10.32 and is trading between $58.21 support and $10.32 support lines. Throughout the month of 04/26/22 - 05/26/22, the price experienced a +2% Uptrend. During the week of 05/19/22 - 05/26/22, the stock enjoyed a +0.64% Uptrend growth.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where DKNG's RSI Oscillator exited the oversold zone, 7 of 15 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 47%.
The Momentum Indicator moved above the 0 level on May 20, 2022. You may want to consider a long position or call options on DKNG as a result. In 24 of 38 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 63%.
The Moving Average Convergence Divergence (MACD) for DKNG just turned positive on May 17, 2022. Looking at past instances where DKNG's MACD turned positive, the stock continued to rise in 17 of 21 cases over the following month. The odds of a continued upward trend are 81%.
Following a +5.40% 3-day Advance, the price is estimated to grow further. Considering data from situations where DKNG advanced for three days, in 93 of 116 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 5 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 50 of 62 cases within the following month. The odds of a continued downward trend are 87%.
The Aroon Indicator for DKNG entered a downward trend on May 23, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 76%. During the last month, the daily ratio of advancing to declining volumes was 1.27 to 1.
The Tickeron PE Growth Rating for this company is 10 (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 65 (best 1 - 100 worst), indicating fairly steady price growth. DKNG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 97 (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 (4.494) is normal, around the industry mean (5.745). P/E Ratio (0.000) is within average values for comparable stocks, (78.167). DKNG's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (1.130). Dividend Yield (0.000) settles around the average of (0.034) among similar stocks. P/S Ratio (4.125) is also within normal values, averaging (7.773).
The Tickeron SMR rating for this company is 97 (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 Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. DKNG’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock worse than average.
Casinos/Gaming includes companies that operate casinos, gaming services, horse racing and harness racing facilities. Think Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts, Ltd. In periods of strong economic growth, consumers tend to spend on discretionary/leisure activities like gambling or games; but consumption is likely to slow down when there’s economic sluggishness.
The average market capitalization across the Casinos/Gaming Industry is 3.3B. The market cap for tickers in the group ranges from 153K to 24.5B. LVS holds the highest valuation in this group at 24.5B. The lowest valued company is ROBK at 153K.
The average weekly price growth across all stocks in the Casinos/Gaming Industry was -2.66%. For the same Industry, the average monthly price growth was -10.14%, and the average quarterly price growth was -21.13%. EPGG experienced the highest price growth at 33.33%, while TABCF experienced the biggest fall at -80.67%.
- 5/24/22 7:00 AM: DRAFTKINGS (DKNG, $13.94) was a top weekly gainer, with a +11.7% jump
- 5/17/22 6:52 AM: DRAFTKINGS (DKNG, $12.48) was a top weekly gainer, with a +13.56% jump
- 5/4/22 8:26 AM: DraftKings (DKNG, $15.08) was a top weekly gainer, with a +8.02% jump
The average weekly volume growth across all stocks in the Casinos/Gaming Industry was -21.53%. For the same stocks of the Industry, the average monthly volume growth was -0.65% and the average quarterly volume growth was -8.12%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the 15 Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 37%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.02.
85 stocks in the group of tickers exhibit a similar positive trend based on the BollingerBands indicator with an average likelihood of 80%.
The most notable companies in this group are Alphabet (NASDAQ:GOOGL), Alphabet (NASDAQ:GOOG), Meta Platforms (NASDAQ:FB), NetEase (NASDAQ:NTES), Baidu (NASDAQ:BIDU), Twitter (NYSE:TWTR), Snap (NYSE:SNAP), Spotify Technology SA (NYSE:SPOT), Pinterest (NYSE:PINS), Zynga (NASDAQ:ZNGA).
The average market capitalization across the group is 32.8B. The market cap for tickers in the group ranges from 0 to 1.4T. GOOGL holds the highest valuation in this group at 1.4T. The lowest valued company is HTSC at 0.
- 5/21/22 6:31 AM: Alphabet (GOOG, $2,186.26) saw a $97.6B market cap decrease this week
- 5/21/22 6:30 AM: Alphabet (GOOGL, $2,178.16) saw a $91.5B market cap decrease this week
- 5/19/22 8:24 AM: Alphabet (GOOG, $2,248.02), market cap dropped by $60.1B
The average weekly price growth across all stocks in the group was -1.25%. For the same group, the average monthly price growth was -8.06%, and the average quarterly price growth was -36.16%. CYIO experienced the highest price growth at 58.05%, while MKD experienced the biggest fall at -37.33%.
- 5/25/22 7:32 AM: Meta Platforms (FB, $181.28) was a top loser this week, declining -10.53%. Expect a Downtrend reversal
- 5/25/22 7:32 AM: iQIYI (IQ, $3.41) was a top loser this week, declining -7.34%
- 5/25/22 7:32 AM: OLB Group (The) (OLB, $1.07) is a top weekly loser for penny stocks, falling -15.75%
The average weekly volume growth across all stocks in the group was 53.46%. For the same stocks of the group, the average monthly volume growth was 226.16% and the average quarterly volume growth was 186.15%
- 5/25/22 7:27 AM: The volume for China Index Holdings stock increased for one day, resulting in a record-breaking daily growth of 867% of the 65-Day Volume Moving Average
- 5/24/22 6:54 AM: The volume for BIT Mining stock increased for three consecutive days, resulting in a record-breaking daily growth of 232% of the 65-Day Volume Moving Average
- 5/21/22 6:24 AM: The volume for Arco Platform stock increased for two consecutive days, resulting in a record-breaking daily growth of 249% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows