DraftKings Inc. is an American daily fantasy sports and online sports betting company based in Boston, Massachusetts. The company’s current market capitalization is calculated to be 7,980.5 million USD as of 3rd February 2023. The figure has experienced a minor fluctuation over the past few days with the market capitalization being 7,572.1 million USD on 2nd February 2023, slightly up from its 7,639.4 million USD value on 1st February 2023.
It is seen that the company’s current market value is still well below its year-high of 25 billion USD recorded back on 8th September 2020, which represents a considerable 68% drop in market capitalization over the past two years since then. Additionally, it also lags behind its average price over the last 50 days (13.88 USD) and 200 days (14.48 USD).
In terms of exchange rate movements, DraftKings Inc.’s stock has registered modest gains of around 7% between 2nd January 2021 and 3rd February 2021 according to NASDAQ exchange figures (17.78 vs 16.75). On a smaller time frame however, DraftKings Inc.’s stock has seen some volatility with day highs and lows ranging from 17.80 on 3rd February 2021 to 16.76 on the same day respectively as per NASDAQ data.
To conclude, it can be said that while DraftKings Inc.’s current market capitalization remains significantly lower than its peak values of two years ago, the stock has been experiencing steady upwards trend since the start of this year and mid-term prospects for continued growth remain positive given favorable exchange rate trends observed in recent months coupled with record high volumes traded on exchanges like NASDAQ during this period indicating increasing investor confidence in the company’s financial performance going forward.
