Jonah’s Large/Mega Cap Deep Dives

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Part 2: Deep dive on DraftKings (DKNG)

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Part 2: Deep dive on DraftKings (DKNG)

Jonah Lupton
Aug 14, 2023
∙ Paid
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Part 2: Deep dive on DraftKings (DKNG)

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In order to read this entire deep dive on DraftKings (DKNG) you’ll need to become a paid subscriber by clicking the button below. If you’re already a paid subscriber than I thank you for your support. Paid subscribers receive 2-3 deep dives per month plus access to my current investment portfolio (~97% YTD and ~1,000% over the past 3 years), investment models and daily webcasts.


I also run a Stocktwits rooms where I post 25+ times per day including my daily activity, market commentary, quarterly earnings analysis, analyst upgrades/downgrades, options trades, daily webcasts and much more… this is also where I chat with subscribers throughout the day.

Signup for Jonah's stocktwits room


Here are my other newsletters…

Jonah’s Small/Mid Cap Deep Dives

We send out 3-4 deep dive writeups per month (6,000+ words each) on small caps and mid caps which are companies with a market capitalization below $10 billion.
By Jonah Lupton

Trading the Charts

Trading the Charts is a daily email with my favorite trading setups. You'll get access to my current trading portfolio, buys & sells, position sizes, entry & exit prices, and perhaps even some living trading & charting sessions.
By Jonah Lupton

Investing with the Whales Podcast

Just another investing focused podcast that brings you interviews with CEOs, investors, traders, analysts, industry experts and fund managers.
By Jonah Lupton

Company: DraftKings

Ticker: (DKNG)

Website: DraftKings.com

IPO date: April 24, 2020 (through SPAC)

IPO price: $20.49

Current stock price: $31.74

Outstanding shares: 463.9 million

52 week high: $32.45 on July 28, 2023

52 week low: $10.69 on December 28, 2022

ATH: $74.38 on March 22, 2021

Market cap: $14.724 billion

Net cash/debt: -$206.4 million (net debt)

Enterprise value: $14.931 billion

Headquarters: Boston, Massachusetts, United States

Number of employees: 4,200+

Average price target from analysts: $31.48


Investor Relations [click here]

Q2 2023 Earnings Report [click here]

Q2 2023 Earnings Webcast [click here]

Q2 2023 Earnings Presentation [click here]

Moffett Nathanson Technology Conference [click here]

18th Annual Needham Technology Conference [click here]


Outline

  1. Introduction [part 1]

  2. Company Background [part 1]

  3. Opportunity [part 1]

  4. Business Model [part 1]

  5. Competitive Advantages [part 1]

  6. Risks [part 1]

  7. Valuation [part 2]

  8. Investment Model [part 2]

  9. Analysts [part 2]

  10. Technicals [part 2]

  11. Conclusion [part 2]

  12. Additional Sources [part 1, 2]

Below the paywall is part 1 of the DraftKings deep dive along with links to my investment portfolio (up ~100% YTD), daily activity, investment models and daily webcasts.

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