Insiders Are Dumping DraftKings Shares — Should You Panic? This Analyst Says No

Last week, along with the market retracement, shares of online sports betting company DraftKings (DKNG) dropped by 20%. The plunge cannot detract from the fact that since going public through a reverse merger in April, the stock has still outperformed the market considerably – up by over 70% (and by 210% since the turn of the year including the period prior to the reverse merger when trading as Diamond Eagle).Some company insiders took advantage of the rally by unloading their shares last week. A recent SEC filing showed that DraftKings founder and other top brass offloaded $596 million worth of …read more

Source:: Yahoo Finance