Truist maintains buy ratings on DraftKings and Flutter amid US market risks

DraftKings shares touched $18.55 on Thursday before closing at $19.35, marking their lowest level in more than three years. Flutter shares also declined. The report linked investor concerns to weaker quarterly earnings, promotional spending and competition from prediction markets.

On Thursday, the sportsbook operator's stock touched roughly $18.55 and ended the session at $19.35, a level it had not seen in over three years. The slump was not confined to DraftKings: Flutter Entertainment, which owns FanDuel, was caught up in the same selling. Over the past year, the value of DraftKings shares has been cut by about half, the report noted.