DKNG is a fat pig of a stock and it is about to get butchered.

I mean they have outstanding debt and their price has been pumped up during a time where consumer traffic is less than their usual. I personally think a negative earnings is coming and it will hit the price hard.

I do not usually have a position during earnings but this stock slapped me in the face twice and I think having a put on it will be a safe trade. Possible upward movement is their recent high of 28 dollars and downward movement could result in a price of 17-19 dollars.
Trade closed: stop reached: Whatever... I played a IPO stock earnings call. Even tho they missed earnings and are still in debt their long term plan and CEO made it sound like a reasonable long term play.


right when/if it gets back down to 17-18, im going all in
+2 Reply
itsQure JustOffTopic
@JustOffTopic, sounds good. Just make sure it looks like the price is consolidating at that price.
Up 14% today. Looks like you were wrong!
+1 Reply
itsQure Stocks_and_blondes
@Stocks_and_blondes, yep. 80/20 rule... I should not have been so sure since it was a recent IPO and had a suave CEO that made it sound good. They have a pretty well-managed company. They are in debt and are still not profiting on shares so I still have no intent on long-term investing with them.
Look at my most recent post. . The earnings for Q1 were pretty respectable
+1 Reply
Possibly but what difference will it make if you're a long hold.
+1 Reply
itsQure laingdou
@laingdou, depends on the price you got in at.

Personally I would take profit tomorrow if price gets pushed up in anticipation for earnings. Then grab a long call at a later date
I would short it now
itsQure Elias369
@Elias369, probably not a bad idea, but at the same time not a great idea.. at the moment.

Bearish view: we are at a new high and the top of the trendline that has been made the past month. An adjustment is likely to come the next day or so. With the jam up right before the closing bell, we could see this tomorrow lasting till a price point where buyers enter.

Bullish view: we are in uncharted territory and what is keeping us from going higher? The ceo showed that corona virus did not hurt the business badly and with sports coming back into view why sell now?

I would just be careful if I was you. Maybe wait for exhaustion to come or a bearish signal. Then take profit when it reaches a comfortable pullback.

The original post was a gamble on Earnings and it did not pan out well. The company is a recent IPO and there is a lot of uncharted territory. Trendlines and previous price support/ resistance will be your best friends for predicting pullbacks.
Elias369 itsQure
@itsQure, Thanks
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