..

Motley Fool: Is DraftKings Insider Selling a Red Flag?

Written by:
Aaron Goldstein
Published on:
Jun/29/2020

One of the hottest stocks of 2020, Motley Fool notes that DraftKings just sold 46 million shares to the public less than two months after its SPAC IPO.


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

Many of these additional shares came in the form of insiders cashing out portions of their stock holdings.

So should investors view this insider selling as a red flag or just a sign of healthy demand for the stock?

Luis Sanchez of the Fool writes:

DraftKings is currently unprofitable and requires capital to invest in the growing online sports betting market. So, the rationale for raising $640 million in fresh funds is clear. However, most insiders had an opportunity to sell shares in the IPO transaction completed in April. The fact that insiders sold an additional 30 million shares (slightly less than 10% of total shares outstanding) can be interpreted as the insiders viewing the valuation as rich.

When Las Vegas was set to reopen on June 4, there was no one more optimistic and/or grateful than Derek Stevens, CEO of Circa Sports and owner of the Golden Gate Hotel.

“I told all of my employees, not only are we going to open, but we are going to open on the first minute,” Stevens said.

To make the moment even more special, Stevens first bought 1,000 airline tickets from five US airlines and culled customers from 28 US cities – giving away the flights over the course of two hours. The demand was so great, he bought 1,000 more and added five more US cities, and those were gone in the space of 20 minutes.

“It was good for Vegas, it was good for my employees and it was good for the airlines … and I certainly got to meet a whole lot of people,” Stevens said Friday.

- Aaron Goldstein, Gambling911.com

Gambling News

Penn National Agrees to Pay $387 Million More to Buy the Remaining 50% of Barstool Sports

Penn National Agrees to Acquire Rest of Barstool Sports

Penn is buying the sports entertainment and gambling company outright, having already paid $163 million for a 36% prior ownership.  This brings the valuation to $450 million.

Bronny James Betting Odds Posted by BetOnline

Bronny James Betting Odds Posted by BetOnline

With LeBron James inking a two-year extension to stay with the Lakers, the speculation is on as to whether or not Bronny James will stay close to home and ultimately play with his pop.

Netherlands aim to limit gambling ads

Netherlands aim to limit gambling ads

The Dutch government is putting a stop to the torrent of gambling ads that flooded Dutch citizens. After opening the market in October 2021, casinos and sportsbooks have been vying over (potential) Dutch players.

Browns Updated 2022 Odds With Deshaun

Browns Updated 2022 Odds With Deshaun Watson 11 Week Suspension

Deshaun Watson saw his suspension revised to 11 games today, and the oddsmakers at SportsBetting.ag were quick to make adjustments for their Super Bowl, conference and division odds.  And it does not look good for the Cleveland Browns.

Browns QB Deshaun Watson Suspension Increased to 11 Games

BetOnline pulled futures odds on the Cleveland Browns once again on news that Deshaun Watson's suspension has been increased from 6 games to 11.

Syndicate