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DraftKings (DKNG, $67.47) beats Q4 earnings expectations
Sports-betting platform DraftKings reported fourth quarter earnings that exceeded analysts’ expectations. It also boosted its 2021 sales guidance on better than expected sports betting activity amid the pandemic.
The company reported an adjusted loss of - 24 cents a share, compared to the loss of -42 cents a share anticipated by analysts polled by FactSet.
Revenue rose to $322.2 million from $162.6 million, also beating analysts expectations of $235.3 million.
Monthly unique payers (MUPs) climbed +44% year-over-year to 1.5 million on average engaged with DraftKings each month during the fourth quarter.
MUPs increased 29% for 2020, which includes COVID-19 impact on MUPs for Sportsbook and DFS primarily during the second quarter and early in the third quarter, according to the company.
For the full fiscal year 2021, the company boosted its revenue guidance to a range of $900 million to $1 billion from a range of $750 million to $850 million.
DKNG's Indicator enters downward trend
The Aroon Indicator for DKNG entered a downward trend on May 16, 2022. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 91 similar instances where the Aroon Indicator formed such a pattern. In 83 of the 91 cases the stock moved lower. This puts the odds of a downward move at 90%.
Current price $12.48 crossed the support line at $11.80 and is trading between $58.21 support and $11.80 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -25% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +14% Uptrend.
The Momentum Indicator moved below the 0 level on May 06, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on DKNG as a result. In 33 of 38 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 87%.
The Moving Average Convergence Divergence Histogram (MACD) for DKNG turned negative on May 09, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 20 similar instances when the indicator turned negative. In 16 of the 20 cases the stock turned lower in the days that followed. This puts the odds of success at 80%.
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 RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where DKNG's RSI Indicator exited the oversold zone, 10 of 15 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 67%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 15 of 23 cases where DKNG's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 65%.
Following a +22.79% 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%.
DKNG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call 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 75%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.26.
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.
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 (3.285) is normal, around the industry mean (5.756). P/E Ratio (0.000) is within average values for comparable stocks, (79.192). DKNG's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (0.907). Dividend Yield (0.000) settles around the average of (0.030) among similar stocks. P/S Ratio (3.915) is also within normal values, averaging (8.849).
The Tickeron SMR rating for this company is 96 (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 Price Growth Rating for this company is 93 (best 1 - 100 worst), indicating slightly worse than average 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 PE Growth Rating for this company is 9 (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.
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 3.4B. The market cap for tickers in the group ranges from 153K to 26.5B. LVS holds the highest valuation in this group at 26.5B. The lowest valued company is ROBK at 153K.
The average weekly price growth across all stocks in the Casinos/Gaming Industry was 0.78%. For the same Industry, the average monthly price growth was -11.18%, and the average quarterly price growth was -16.99%. WPKS experienced the highest price growth at 122.22%, while EPGG experienced the biggest fall at -36.36%.
- 5/4/22 8:26 AM: DraftKings (DKNG, $15.08) was a top weekly gainer, with a +8.02% jump
- 3/30/22 5:33 AM: DraftKings (DKNG, $20.69) was a top weekly gainer, with a +6.59% jump
- 3/18/22 7:14 AM: DraftKings (DKNG, $18.99) was a top weekly gainer, with a +8.02% jump
The average weekly volume growth across all stocks in the Casinos/Gaming Industry was 0.89%. For the same stocks of the Industry, the average monthly volume growth was 81.39% and the average quarterly volume growth was 68.53%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA200MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 56%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.27.
102 stocks in the group of tickers confirmed the negative outlook based on the Aroon indicator with average odds of 80%.
The most notable companies in this group are Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:FB), NetEase (NASDAQ:NTES), Snap (NYSE:SNAP), Baidu (NASDAQ:BIDU), Twitter (NYSE:TWTR), Spotify Technology SA (NYSE:SPOT), Pinterest (NYSE:PINS), Zynga (NASDAQ:ZNGA).
The average market capitalization across the group is 39.1B. The market cap for tickers in the group ranges from 6.1M to 1.5T. GOOG holds the highest valuation in this group at 1.5T. The lowest valued company is MYSZ at 6.1M.
- 5/14/22 4:23 AM: Alphabet (GOOG, $2,330.31), market cap jumped by $44.1B
- 5/12/22 5:38 AM: Meta Platforms (FB, $188.74) saw a $93.8B market cap decrease this week
- 5/11/22 7:46 AM: Alphabet (GOOGL, $2,287.9), market cap jumped by $26.0B
The average weekly price growth across all stocks in the group was 1.15%. For the same group, the average monthly price growth was -20.11%, and the average quarterly price growth was -45.64%. ANGI experienced the highest price growth at 33.15%, while UPST experienced the biggest fall at -51%.
- 5/14/22 4:23 AM: Signify Health (SGFY, $13.12) was a top weekly gainer, with a +5.64% jump
- 5/14/22 4:23 AM: Opendoor Technologies (OPEN, $7.27) was a top weekly gainer, with a +8.35% jump
- 5/14/22 4:23 AM: American Well (AMWL, $3.21) was a top weekly gainer, with a +8.81% jump
The average weekly volume growth across all stocks in the group was -44.59%. For the same stocks of the group, the average monthly volume growth was 7.6% and the average quarterly volume growth was 12.83%
- 5/14/22 4:17 AM: The volume for So-Young International stock increased for a consecutive 5 days, with an average daily gain of 140%
- 5/14/22 4:17 AM: The volume for China Index Holdings stock increased for two consecutive days, resulting in a record-breaking daily growth of 3,988% of the 65-Day Volume Moving Average
- 5/14/22 4:17 AM: The volume for My Size stock increased for one day, resulting in a record-breaking daily growth of 3,129% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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