DraftKings Slumps: Recovery Possible Amid Share Drop?

DraftKings Shares Drop as Quarterly Loss Surprises Wall Street

Disappointing revenue results lead to more than 2% drop in shares of DraftKings Inc.

In a surprising turn of events, sports-betting platform DraftKings Inc. experienced a quarterly loss that caught Wall Street off guard. As a result, shares of the company dropped more than 2% during extended trading on Thursday. The company reported a loss of $45 million, or 10 cents per share, during the fourth quarter. This is in comparison to its year-ago quarter loss of $243 million, or 53 cents per share.