DraftKings Stock Jumps As Its Prediction-Market Bet Hits A Critical Test
DraftKings Inc. shares rose 5.3% on Wednesday, bouncing from the prior session’s slide as investors weighed fresh signs that the sports-betting company is pushing deeper into federally regulated prediction markets. The stock was at $25.07 in late trading, up $1.26 from Tuesday’s close. It opened at $23.85, traded as high as $25.32 and drew volume of about 11.8 million shares, while FanDuel parent Flutter Entertainment rose 2.0%. The Invesco QQQ Trust, a proxy for large Nasdaq technology shares, slipped 0.1%.