• DraftKings inventory falls 7% after Hindenburg Analysis reveals brief place

    Shares of sports activities betting agency DraftKings fell on Tuesday after Hindenburg Analysis introduced that it had taken a brief place towards the inventory.

    The inventory, which has been among the best performers on Wall Road since going public by way of a merger with a particular function acquisition car final 12 months, was down extra 7% in early buying and selling.

    Within the report, Hindenburg compares DraftKings valuation to that of rival companies and questions the corporate’s promotional spend and future potential within the extremely aggressive sports activities playing panorama.

    The report additionally alleges that SBTech, a European expertise