SectorWire
SearchRegister
MenuClose

Spruce Point warns DraftKings shares could fall to $14

Business

Short seller Spruce Point Management said DraftKings shares could fall to between $14 and $22, citing competition from prediction markets. It estimated further downside of 35% to 60% and said operators face uncertainty while state litigation continues; Arizona and Ohio regulators have warned that prediction-market activity could put sports betting licences at risk.

The warning flags potential competitive and licensing risks for sports betting operators considering prediction markets.

End-of-day close DraftKings (DKNG), USD, to 17 November 2025
Story date19 August 202517 November 2025

Latest reported results

DraftKings NASDAQ: DKNG

Quarter ended 30 September 2026

Revenue
USD 1.33bn10-Q filing 0001883685-26-000041
Operating income
−USD 493.1m10-Q filing 0001883685-26-000041

Request a correction

Flag an issue

Keep reading