Thanksgiving is a time to reflect on the things we're grateful for, and in honor of the holiday, four Fool contributors listed the stocks they're most thankful for in this episode of "The Five" recorded on Nov. Read More...
Motley Fool
Why DraftKings Stock Plunged Today
Shares of DraftKings (NASDAQ: DKNG) fell 9.4% on Friday after noted short-seller Jim Chanos said he was betting against the sports betting company. “If you quadrupled DraftKings’ revenue and gross profit … and take their marketing spending, which is currently over 100% of revenue, to 10% of revenue, which is their target, and you keep overhead at today’s level … DraftKings would still be losing $200 million a quarter,” Chanos said. It should be noted, however, that DraftKings CEO Jason Robins vehemently disagrees with that view.
