DraftKings Looks Ready For A MVP Run
Fantasy sports company DraftKings looks like it is getting ready to begin a march towards a championship title. After a large move higher in 2020 (blog post here), it has been consolidating constructively over the past four months. The past five weeks have been really impressive and the tight action seen this week is especially noteworthy.
From a fundamental standpoint, DraftKings is currently not profitable but has seen its' sales increase the last two quarters. The 2021 professional sporting seasons are also likely to help DKNG as many leagues had to have shortened seasons last year due to COVID-19. If DraftKings can clear recent resistance levels, I believe it can be poised for an MVP type run.
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