DraftKings (NASDAQ: DKNG) stock has been hit by news that Illinois could be raising taxes, and that may undermine the company’s financial upside. As Travis Hoium discusses in this video, taxes may continue to be a headwind for online gaming companies long-term.
*Stock prices used were end-of-day prices of June 3, 2024. The video was published on June 3, 2024.
Should you invest $1,000 in DraftKings right now?
Before you buy stock in DraftKings, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and DraftKings wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $671,728!*
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.
*Stock Advisor returns as of June 3, 2024
Travis Hoium has positions in MGM Resorts International. The Motley Fool recommends Flutter Entertainment Plc. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
Terrible News for DraftKings Stock Investors was originally published by The Motley Fool
Signup bonus from
