Argus downgraded DKNG from Buy to Hold as shares sit 43% below their 52-week high amid rising costs and state tax uncertainty.
DraftKings' investment in its federally regulated predictions platform will add tens of millions in costs while 2026 guidance ******* umes stable state tax rates.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and DraftKings didn't make the cut. Grab the names FREE today.
DraftKings (NASDAQ:DKNG) has had a rough stretch in 2026. Shares are down 26.61% year to date as of Friday's close and 43.22% over the past year, trading at $26.17 against a 52-week high of $48.78. Now, Argus has formalized what the price action has been signaling, cutting the stock to Hold from Buy and removing its price target.
Argus cited high customer acquisition costs, rising state gaming taxes and aggressive competition from prediction markets as the primary drivers of the downgrade. The firm also flagged that DraftKings has been losing market share in U.S. Internet gaming, and cut its estimates accordingly.
#draftkings #rising
DraftKings' investment in its federally regulated predictions platform will add tens of millions in costs while 2026 guidance ******* umes stable state tax rates.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and DraftKings didn't make the cut. Grab the names FREE today.
DraftKings (NASDAQ:DKNG) has had a rough stretch in 2026. Shares are down 26.61% year to date as of Friday's close and 43.22% over the past year, trading at $26.17 against a 52-week high of $48.78. Now, Argus has formalized what the price action has been signaling, cutting the stock to Hold from Buy and removing its price target.
Argus cited high customer acquisition costs, rising state gaming taxes and aggressive competition from prediction markets as the primary drivers of the downgrade. The firm also flagged that DraftKings has been losing market share in U.S. Internet gaming, and cut its estimates accordingly.
#draftkings #rising
23 days ago
